China highlighted at world energy forum
China’s energy sector was highlighted at the 38th CERAWeek at Houston in the past week. The annual energy conference featured prominent speakers from energy, technology, and financial sectors. More than 4,500 guests from over 70 countries and regions attended this year.
For the first time, CERAWeek held Special Dialogue on China. Hou Qijun, vice president of China National Petroleum Corporation (CNPC) made keynote speech on March 11.
Hou said that the global oil and gas market faces both major opportunities and serious challenges. CNPC will work with other global energy companies to provide the world with more convenient, cleaner, safer and cheaper energy.
Forecasts indicate that the United States will become the world's largest exporter of LNG (liquefied natural gas) in 2025. China's energy structure adjustment, air pollution control, and other measures have made China's natural gas demand grow rapidly.
In this context, China-US energy cooperation has great potential and scope, Hou said. Driven by trade facilitation measures, China will expand US oil and gas imports and improve the trade structure between the two countries.
At CERAWeek, China’s achievement in pushing for electric vehicles (EV) for a cleaner environment was also recognized.
Marianne Kah, an expert at the Center on International Energy Policy at Columbia University, said her research team is very appreciative of the Chinese government's approach to promote new energy vehicles. The Chinese model is often cited as a success case study in her teaching.
Liu Chaoquan, vice president of CNPC Economics & Technology Research Institute, explained that the Chinese government improved the environment by subsidizing EV manufacturers and consumers while limiting vehicle emission, sales of conventional cars and other policies.
Liu estimated that with the rapid growth of new energy vehicles (LNG, electricity, ethyl alcohol and bio-chemical), China will replace oil consumption of 120 million tons and curb China’s dependency on imported oil.
Zhang Jingyu contributed to the story
