Two Ministries Release 15th Five-Year Oil and Gas Plan: Domestic Supply to Hit 440 Million Tons of Oil Equivalent by 2030

The National Development and Reform Commission and the National Energy Administration have issued the "15th Five-Year Plan for Oil and Gas Development," setting the goal of building a modern oil and gas industry system by 2030. Targets include: domestic oil and gas supply reaching 440 million tons of oil equivalent, total pipeline network length of 220,000 kilometers, natural gas reserve ratio exceeding 13%, and LNG receiving capacity of 200 million tons per year. The plan emphasizes strengthening exploration in key basins, establishing seven major strategic safeguard bases, and promoting pipeline network expansion, reserve improvement, and green fuel substitution to drive the industry's low-carbon transition.