Update on China’s energy goals

In “Toxic Capitalism” I detailed China’s plans to improve its energy consumption and energy mix.
Here some recent updates, source: China Daily.

Situation 2012

- Total energy consumption reached 3.62 billion tons of standard coal, up 4% year-on-year
- China will reduce coal consumption’s share of the total energy mix to 65% from 66.4% in 2012.
- Non-fossil fuel consumption took up about 9.1% of the energy mix, up 1.1% year-on-year.
- Natural gas consumption accounted for 5.5% of the total mix

Goals 2015

- Energy consumption will be capped at 4 billion tons of standard coal, and power use will be 6.15 trillion kWh
- Keep oil imports within 61% of total demand
- Energy consumption per unit of GDP will be cut by 16% compared with 2010 levels while energy efficiency will be raised by 38%
- Coal production capacity will reach 4.1 billion tons, but the output will be limited within 3.9 billion tons
- China will raise its non-fossil fuel consumption to 11.4% of primary energy use, with natural gas accounting for 7.5%
- Newly added proven reserves of coal-bed gas will be 1 trillion cubic meters, and shale gas will reach 600 billion cu m.
- Sinopec will own up to 1 billion cubic meters of shale gas production capacity
- Installed generating capacity of nuclear power plants will reach 40 GW

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