Market Reform in China's Oil and Gas Industry for Energy Security:Challenges,Strategies,and Prospects
Since the 18th National Congress of the Communist Party of China,the Party and state leaders have attached great importance to China's energy security issues.In 2014,during the sixth meeting of the Central Leading Group on Financial and Economic Affairs,the major energy security strategy of"four revolutions and one cooperation"(a revolution in energy supply,consumption,technology and market,increase international cooperation in all sectors)was proposed,becoming a guiding and important document for the development of China's energy industry.China's energy resources are characterized by"rich in coal,poor in oil,and scarce in gas."Despite the vigorous development of renewable energy sources,it appears difficult to replace the role of fossil fuels on a large scale for a long time ahead.Therefore,ensuring a stable supply of oil and gas resources remains the core issue of energy security.Faced with complex and changing external circumstances,and amidst a critical period of domestic economic transformation,China's energy security challenges remains severe.Therefore,further reforming the energy industry and fully leveraging market mechanisms are imperative.Specifically,the oil and gas industry need to enhance supply security and strengthen risk prevention capabilities through market reforms,which also effectively harness the power of the market to boost efficiency.It is essential to comprehensively consider various aspects such as social security and sustainable development to enhance industry quality,ultimately achieving energy security under the premise of a fair transition.This paper first proposes a new perspective on energy security system based on energy transition,then reviews the history of market reforms in China's oil and gas industry,analyzes the multiple challenges faced in these reforms,proposes possible solutions based on these challenges.Furthermore,in the context of the climate crisis,this paper proposes longer-term energy industry development strategies.
energy securityoil and gas marketenergy transitionsystem reformmarket-based pricing
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