The natural gas used for cooking at home, gasoline used for transportation, and energy for winter heating all rely on the oil and gas industry. On August 17th, the National Development and Reform Commission and the National Energy Administration released the "15th Five Year Plan" for the development of the oil and gas industry, setting the development path for the next five years.

The core needs to do two things

Currently, the international oil and gas supply chain is facing more uncertainties - geopolitics, trade frictions, transportation channels, and excessive reliance on imported energy carries high risks. The core of this plan consists of two major events:

Firstly, we must uphold the bottom line of energy security and ensure that our oil and gas supply is sufficient;

Secondly, steady green transformation, oil and gas extraction can also be low-carbon and environmentally friendly, two paths should be taken together.

By 2030, we will gradually build a modern oil and gas industry system that is independent, controllable, green, and low-carbon. We will achieve "five sustained improvements" in supply capacity, international cooperation level, green and low-carbon transformation, technological innovation strength, and oil and gas market vitality.

Focus on key points! Visible hard targets by 2030

A set of key numbers to understand the development of oil and gas in the next 5 years.

440 million tons - By 2030, the domestic oil and gas supply will reach 440 million tons of oil equivalent. In the future, a larger proportion of the oil and gas we use will be "self-produced".

20000 kilometers and 220000 kilometers - During the 15th Five Year Plan period, 20000 kilometers of oil and gas long-distance pipelines will be added, and by 2030, the scale of the national oil and gas long-distance pipeline network will reach 220000 kilometers, making the oil and gas "national network" more interconnected and efficient. More cities, parks, and households will be able to connect to pipeline natural gas.

13% - By 2030, the scale of natural gas reserves should account for more than 13% of national consumption. Why is reserve important? Because there is a 'seasonal difference' in natural gas consumption. The gas consumption for heating in winter is several times that of summer. Reserve is like a 'reservoir', storing air in summer and releasing it in winter to ensure that the home heating remains warm even when a cold wave arrives.

10 million tons - By 2030, CCS/CUS will inject 10 million tons of carbon dioxide annually. That is to say, capturing and injecting carbon dioxide generated by industrial emissions into the geological strata for storage, in order to better assist in carbon reduction. This document is also the first to include carbon capture, utilization, and storage indicators in the "15th Five Year Plan".

There are also some 'dry goods' that you may be interested in

The oil and gas market system needs to be further improved: more upstream entities participate in exploration and development, midstream infrastructure is fair and open, and downstream market competition is regulated. Private capital can also participate in the construction of non strategic pipelines and oil and gas reserves.

Smart Pipeline Network: Integrating artificial intelligence and the Internet of Things into the oil and gas industry, building "smart oil and gas fields" and "smart oil and gas pipeline networks". In the future, the pipeline will undergo its own physical examination and report to the police.

The "72 Transformations" of Old Oil and Gas Fields: Relying on oil and gas mining areas to develop photovoltaics, wind power, and geothermal energy, promoting the extension of old oil and gas fields to form "electric fields, thermal fields, storage fields, and carbon fields", and giving birth to more new business models.Editor/Gong Ziwei