China’s energy policy in the wake of COVID-19: implications for the next Five Year Plan
This document summarises the key takeaways from the Oxford Institute for Energy Studies’ webinar on China’s power, gas and oil markets in the wake of COVID-19 and ahead of the 14th Five Year Plan.
- The first session, on power sector reform, explored the short and medium term implications of China’s reliance on coal, its plans for and presence in renewables, and role in global climate talks, especially in light of President Xi Jinping’s 2060 carbon neutrality pledge. It discussed the role of the state in power markets and the various goals of power sector reform.
- The second session, on gas market liberalisation discussed the creation of China’s midstream company (PipeChina) and its implications for gas supplies, as well as the outlook for China’s gas demand, especially in the context of the country’s carbon neutrality goal. The session also explored the role of new entrants in the gas market.
- The final session looked at China’s evolving role in global oil markets, the shift of price discovery East, the sources of China’s pricing power in global oil markets and the outlook for oil demand as China pursues the electrification of its transport sector.
China Energy Programme , Country and Regional Studies , Energy Policy
benchmarks , carbon neutrality , China , Coal , COVID-19 , energy security , Gas , LNG , Oil , Pipeline gas , Power , price reform , Renewables