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Power of Siberia 2: deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
Gas may be bridge fuel for centuries
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
China’s pragmatic coal-to-gas strategy
A cautious approach to coal-to-gas switching offers lessons to others who are looking to balance cost with cleaner energy
China
James Gavin
27 June 2019
Follow @PetroleumEcon
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The Chinese art of persuasion

Recent Chinese NOC activity in the South China Sea underscores a growing interest in the disputed region, as Beijing seeks to bring regional states around to its way of thinking

China is adopting a lower-key approach in the South China Sea as it looks to build up oil and gas production capacity. The region covers a wide range of exploration basins, from the mature (Pearl River Mouth, Sarawak) to potentially higher impact frontier basins, such as deepwater Sabah and Phu Khanh. Chinese national oil companies (NOCs) have set themselves ambitious expansion targets. In its 2018-25 plan, Cnooc aims to double its proven oil and gas reserves by 2025 to about 5bn bl oe. That means making more discoveries on the same scale as its 100bn m3 Lingshui gas find in the South China Sea. The region is now firmly in Cnooc's sights. In early April, the state-owned company completed Chi

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Power of Siberia 2: deal or no deal?
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