China's energy security situation and countermeasures

Abstract

PurposeThe purpose of this paper is to put forward countermeasures to ensure China's energy security based on an analysis of the world energy security situation and challenges China faces in the future in terms of energy security.Design/methodology/approachAn induction approach is adopted to analyze the energy security situation of the world and that of China.FindingsAlthough available energy resources can meet the medium and long‐term global energy demand, the world energy security faces lots of severe challenges in the aspects of demand and supply factors, infrastructure, geopolitics and strict environmental protection requirements, etc. China's energy supply security faces many challenges in the coming 20 ∼ 30 years or even in the long term. Taking external factors into consideration, the primary challenge is to ensure a stable and sustainable oil supply with reasonable prices. Though the external conditions are of great importance to China's energy security, the influences of domestic factors also need to be well recognized. With energy resources supply being the bedrock of energy security, the establishment of domestic energy market system and energy management framework will exert momentous impact upon the energy security. In addition, while the petroleum supply security is emphasized, attentions should at the same time be paid to the supply security of other energy products, especially to the supply of China's fundamental energy resource of coal.Originality/valueThe paper provides useful and timely analysis of world energy resources, world energy security situation and world economic performances.