China raises energy production target by 20 percent

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Last updated at: (Beijing Time) Monday, February 09, 2004

China raises energy production target by 20 percent

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China plans to increase its energy production by 20 percent by 2005 as the market demand keeps soaring, according to an unnamed source with the China Petroleum and Chemical Industry Association quoted in local media.

The updated target will be 173 million tons of petroleum, 50 billion cubic meters of gas, 2.1 trillion kilowatt-hours of electricity and 1.9 billion tons of coal, reported Monday's Beijing Morning Post.

"The increase will not cut down on China's petroleum import," said the source, "as its demand in the domestic market will still far exceed the increased supply."

China is expected to rely on imports for 40 percent of its petroleum consumption in the coming years, the source said.

China imported 91 million tons of petroleum in 2003 and the figure is expected to reach between 110 to 120 tons this year.

China will invest more in generating electricity, but a shortage is likely to reappear this year, as a planned new power plant will not go into production till 2006.

The old target for the four energies was 169 million tons of petroleum, 50 billion cubic meters of gas, 1.73 trillion kilowatt-hours of electricity and 1.32 billion tons of coal.

China's strong GDP increase, which stood at 9.1 percent last year, is the main driving force for energy production, while the rapid development of auto, steel, manufacturing and telecommunication industries are the main factors, the source said.

Source: Xinhua

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