Chinese petroleum experts have expressed concern at the absence of
a national oil and gas strategy as the country becomes more reliant
on imported hydrocarbon resources to sustain its economic
development.
Sun Yongxiang, a senior engineer with the PetroChina Petroleum
Planning and Research Institute, said that China needs a long-term
strategy on importing oil and natural gas resources as well as
selecting import sources.
He
expressed the worry that the lack of such a national strategy will
prove unfavorable to China's long-term economic security and
development.
Sun's concern is typical among China's petroleum experts. They
agree that the central and local governments should reach consensus
on the key issues from exploiting domestic oil and gas resources to
diversifying sources of import.
Experts noted that the lack of a strategy is related to the
restructuring in the country's petroleum industry now that oil and
gas supervisory bodies of the government have been removed.
Four state-owned oil enterprises -- China National
Petroleum Corporation, China
Petrochemical Corporation, China National
Offshore Oil Corporation and China Chemical Import and Export
Corporation -- have been set up to replace former supervisory
authorities.
China became a net importer of petroleum in 1993. It imported 60
million tons of crude oil in 2001, which accounted for 30 percent
of the national demand for crude oil.
China is about to build its first terminal for liquefied natural
gas imports in Guangdong Province. Experts predict that a national
shortage of natural gas will emerge by 2005.
(Xinhua News
Agency May 29, 2002)