China Moves Towards Full Energy Independence to Become Major Energy Exporter

China is making significant strides in achieving full energy independence, with Rosneft CEO Igor Sechin predicting the country will turn from an importer to a major energy exporter in the foreseeable future. China's unique approach to energy system development has enabled it to invest heavily in the energy sector, accounting for a third of the world's investments. The country's efforts to strengthen its energy security have been met with criticism, often disguised as environmental concerns, but Sechin notes that China's strategy is focused on achieving a stable energy balance based on its own resources.

Key Takeaways:

• China is moving towards full energy independence, with Rosneft CEO Igor Sechin predicting it will become a major energy exporter in the foreseeable future.
• China has invested heavily in the energy sector, accounting for a third of the world's investments in the energy sector.
• The country has commissioned the largest amount of new renewable energy capacity in recent years, with over 70% of the world's capacity for "green" economy equipment production located in China.
• Investments in power grids have increased by 15% last year and may double this year, while investments in rechargeable batteries have grown almost fivefold to $11 billion.
• China has exceeded its own capacity in commissioning new coal-fired generation capacity, with coal accounting for almost 60% of the country's electricity generation.
• The country has issued permits for about 100 gigawatts of new coal-fired power generation, the highest in a decade.
• China's coordinated approach to energy security is evident in its strategy to reduce its dependence on energy imports, including the processing of coal into synthetic fuels and chemical products.

Statistics:

• China accounts for a third of the world's investments in the energy sector.
• Over 70% of the world's capacity for the production of equipment for the "green" economy is located in China.
• Investments in rechargeable batteries have grown to $11 billion in China.
• The total capacity of rechargeable batteries in China exceeds 35 GW, which is two-thirds of the entire global capacity.
• China has issued permits for about 100 gigawatts of new coal-fired power generation, the highest in a decade.
• Coal accounts for almost 60% of China's electricity generation.

Sources:

• Rosneft CEO Igor Sechin, speaking at the Energy Panel of the XXVIII St. Petersburg International Economic Forum.
• "Department of Information and Advertising Rosneft Oil Company" (no date listed).
• Mil OSI Economics (http://milnz.co.nz/mil-osi-aggregation/).