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BEIJING, March 5 (Reuters) – China will boost production at more modern coal mines and boost its coal reserve capacity, and aims to raise government deployable storage to 5% of local consumption, it said on Saturday. the country’s state economic planner.
The National Development and Reform Commission (NDRC) also said in a statement at the annual parliamentary meeting that it will guarantee coal transportation and further improve coal pricing mechanisms.
The pledges follow the central government’s approval of hundreds of new coal mining and production expansion projects at existing mines since the second half of 2021 after fuel supplies were tight last year. caused a nationwide power shortage that slowed industrial activity.
China’s coal production hit a record high of 4.07 billion tonnes last year.
In a separate work report presented to parliament on Saturday, Chinese Premier Li Keqiang pledged to ensure electricity supply for residential and industrial users this year.
Despite the rapid growth of renewable energy, China remains heavily dependent on fossil fuels for its electricity generation, with more than half of its electricity being generated from coal-fired power plants.
The NDRC report also addressed geopolitical challenges and risks related to coal, power, oil and gas supply and pledged to increase domestic production and storage capacity.
“We will advance the development of major oil reserve projects…And accelerate the increase in reserves and production,” he said. The Commission also said it plans to speed up the construction of new underground gas storage in northern and northwest China.
The government will also encourage market-based integration of provincial oil and gas pipelines to create a unified national network and support the exploration and utilization of unconventional natural gas, the NDRC said.
China will build large wind and solar power bases, promote offshore wind farm clusters, build large hydropower bases in southwest China, and develop nuclear power in an orderly manner while ensuring the security, the NDRC said.
Reporting by Muyu Xu and Shivani Singh; Editing by Christian Schmollinger
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