- Update
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- Format
- 4 files (PDF report, 3 Excel files)
- Pages
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53 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive China energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- In its 14th Five Year Plan, China intends to supply 20% of its total energy consumption from non-fossil fuels in 2025, to achieve peak CO2 emissions before 2030, and to reach carbon neutrality in 2060.
- Large state-owned organisations operate in the electricity and hydrocarbon sectors.
- CNPC dominates oil and gas production, with respectively 50% and 60% of the total.
- CEIC and China Huaneng are the largest power generators, with almost 30% of total production.
- The share of coal in the power mix has decreased by 16 points since 2011 to 62% in 2022: the share of carbon free electricity now reaches 35%.
- In 2020, a market-based system was introduced for industrial electricity users.
- Gas prices in industry are similar to Japan and Korea, but much lower for households.
- Energy consumption growth slowed down in 2022 (+3%) after a 5% progression in 2021.
- Coal dominates the energy mix (61% in 2022), but its share is decreasing rapidly (-10 points since 2010).
- Although subsidy cuts have been announced, renewables are still attracting investors with large-scale projects.
- Despite a cap on coal mine production, new projects continue to increase the coal capacity.
Institutions & Energy Policy
NEA, the National Energy Administration, coordinates the national energy policy, manages energy conservation, and provides guidance about the integrated use of resources. It is a department of NDRC, the National Development and Reform Commission of the China State Council. NDRC formulates and implements medium and long-term strategies on social and economic development.
Energy Companies
Oil:
The oil sector is dominated by three state-owned companies: CNPC (China National Petroleum Corp), Sinopec (China Petroleum and Chemical Corporation), and CNOOC (China National Offshore Oil Corporation). CNPC and Sinopec are vertically integrated.
Energy Supply
Oil:
Oil production has been increasing since 2018 (+2%/year), reaching 216 Mt in 2022. It declined by 3.2%/year between 2015 and 2018, after increasing by 2%/year between 2000 and 2015. Most of the production is onshore and located in the fields close to the north-eastern coast. Offshore production is in full development, with the Bohai basin being one of the most active areas.
Energy Prices
Oil:
Gasoline and diesel prices follow international crude oil prices. No price adjustments take place, however, if international prices are below US$40/bl. The country plans to adapt the mechanism in order to better take into account domestic factors.
Energy Consumption
Total energy consumption per capita is increasing regularly, reaching 2.7 toe/cap in 2022 (nearly 4 times that for India). Electricity consumption per capita increased by over 4% to around 5 800 kWh in 2022, more than twice the 2010 levels.
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
The main priorities are to increase production, diversify the supply sources (for security reasons), and tackle rising emissions. The country also continues to reform the electricity sector.
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed Electric capacity by source (2022, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2022, %)
- GRAPH 5: Gasoline & diesel prices (US$/l)
- GRAPH 6: Electricity prices for industry and households (US$c/kWh)
- GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total Consumption market share by energy (2022, %)
- GRAPH 10: Final consumption market share by sector (2022, %)
- GRAPH 11: Oil consumption (Mt)
- GRAPH 12: Oil consumption breakdown by sector (2022, %)
- GRAPH 13: Electricity consumption (TWh)
- GRAPH 14: Electricity consumption breakdown by sector (2022,%)
- GRAPH 15: Natural gas consumption (bcm)
- GRAPH 16: Gas consumption breakdown by sector (2022, %)
- GRAPH 17: Coal consumption (Mt)
- GRAPH 18: Coal consumption breakdown by sector (2022, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.
The China energy market data since 1990 and up to
is included in the Excel file accompanying the China country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- China Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the China energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).
The China country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
- Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
- Power: Electricity generation & capacities, by technology.
- CO2: Total CO2 emissions.
- Macro-economy: Main macro-economic assumptions.
- Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.