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China's Quest for Energy Security
China's Quest for Energy Security
Increasing Gap Between Consumption and Domestic Production in China Necessitates Import of Oil and Gas
Hyderabad,
AP,
India
(prbd.net)
26/10/2010
China’s energy consumption has grown significantly during the period 2000-2009. Spurred by the country’s rapid industrialization and urbanization, its energy consumption reached record highs and China has emerged as the second largest energy consumer globally. China’s oil and gas consumption grew at an Annual Average Growth Rate (AAGR) of 6.8 % during the period 2000-2009. It is expected to grow further at an AAGR of 2.5% during the period 2010-2020.The growing energy consumption will result in China‘s energy imports increasing substantially, and by 2020 63% of China’s total consumption will be met through imports. This rising energy consumption coupled with limited domestic supply has forced China’s NOCs to look towards importing oil and gas supplies. Over the years, China’s NOCs have made numerous acquisitions in Nigeria, Angola, Sudan, Iraq, Brazil and the Caspian region. As a result, China’s production from overseas oil and gas has increased considerably. To meet its escalating demand, China’s NOCs continue to expand and by 2020 their overseas assets will contribute to more than half of China’s oil consumption.
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China’s NOCs have emerged as the most active investors in overseas oil, and gas projects. With a foreign cash reserves in excess of $2 trillion and ready availability of credit from state banks, China’s NOCs have acquired a number of assets in countries like Sudan, Angola, Nigeria ,the Middle-East, the Caspian region and the countries of Latin America.
Global Data’s new report, “China's Quest for Energy Security - Chinese NOCs Emerging as Key Competitors to Global Oil and Gas Companies” analyses the growth and expansion of China’s National Oil Companies (NOCs) in the global oil and gas market aimed at securing the future energy needs of the country. The report highlights the widening demand-supply gap in China’s primary energy sector and the country’s efforts to bridge the gap through imports. The report details overseas projects and Merger and Acquisition (M&A) activities of China’s NOCs in various countries across the world. The report also traces the growth and integration of China’s NOCs both in their domestic and foreign markets, with a focus on factors that are driving the overseas expansions of China’s NOCs. The report delves deep into the competing strategies adopted by China’s NOCs to beat competition to acquiring oil and gas assets in foreign markets. It compares the growth of China’s NOCs with Internation Oil Companies (IOCs) in terms of operational parameters and financial parameters. It also discusses in detail the major acquisitions of China’s NOCs in global energy markets in recent years. The impact of China’s overseas growth on NOCs from other developing countries has also been analyzed in the report, with a focus on major M&A activities by different NOCs
For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Chinas-Quest-For-Energy-Security--Chinese-NOCs-Emerging-As-Key-Competitors-To-Global-Oil-and-Gas-Companies&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Energy_and_Utilities
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