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Outlook 2022
China Energy transition Net zero Coal Gas
Michal Meidan
15 November 2021
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Outlook 2022: China’s mixed messages and changing paradigm

The Asian giant may need to increase coal supply to outlast the winter, but it is clearly greening its long-term energy policy

The severe power outages that have plagued China since September, and the government’s subsequent focus on supply security, are raising questions about whether the country is committed to its targets of peaking emissions before 2030 and reaching carbon-neutrality by 2060 (the so-called 30-60 targets). The short answer is that Beijing is not backing away from its longer-term commitments. But as the power crisis highlights, it must balance them with short-term realities. And in China’s energy-intensive post-pandemic recovery, securing reliable, affordable and clean energy supplies has become increasingly challenging. In 2022, China will grapple with reliability, as power outages are likely to

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The government refuses to expand E&P access despite the NOC’s high debt pile, falling crude output and growing gas import dependence
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Overall gas optimism is blighted by concerns over lingering regulatory and infrastructure hurdles that could hamper expansion of US LNG exports, weaken security and stifle AI ambitions
East Med needs less talk, more action – Energean CEO
2 October 2025
Some operators are not committed to developing their gas resources, whether because they are too small or of lower priority, or because of geopolitical concerns, says Mathios Rigas

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