Translation. Region: Russian Federal
Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.
China is moving towards complete energy independence and in the foreseeable future will transform from an importer into a major energy exporter, said Rosneft CEO Igor Sechin in his report at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.
He noted that China is a unique example of a competent approach to the development of the energy system – the country today accounts for a third of global investment in the energy sector.
“In my opinion, China, having already ensured its energy security, is confidently moving towards complete energy independence, forming a stable energy balance based on its own resources. There is no doubt, taking into account the persistence and professionalism of our Chinese friends, that in the foreseeable future they will achieve the desired result, which will turn China from an importer of energy resources into a major exporter of energy,” the head of Rosneft noted.
According to Igor Sechin, in recent years, it is China that has been introducing the largest volume of new renewable energy capacity and is home to more than 70% of the world’s capacity for producing equipment for the “green” economy. This concerns the entire value chain: from critical minerals to the production of high-tech equipment that has no analogues in Western countries.
The head of Rosneft also noted China’s efforts to increase investment in related infrastructure: investment in power grids increased by 15% last year, and could double this year. “Investments in storage batteries have grown almost fivefold and reached $11 billion. Today, the total capacity of such batteries in China exceeds 35 GW, which is two-thirds of all global capacity,” said Igor Sechin.
At the same time, China has never given up on fossil fuels. In terms of the volume of new coal-fired power generation capacity introduced over the past five years, the country has outpaced the rest of the world. “Today, the share of coal in electricity production in China is almost 60%. Last year alone, China issued permits for the construction of about 100 gigawatts of new coal-fired power generation, the highest figure in the past ten years, which should strengthen the role of coal in the energy system,” the head of Rosneft emphasized.
China’s efforts to strengthen its own energy security are causing a storm of criticism, often disguised as concern for the environment. “As the outstanding Chinese strategist and thinker Sun Tzu aptly noted two and a half thousand years ago: ‘The more brilliant your plan, the fewer people will agree with it,’” the head of Rosneft added.
Sechin said China’s coordinated approach to energy security is particularly evident in the example of electric vehicles. The growth of their sales led to a significant slowdown in demand for motor fuel last year, and “the continuation of this trend could have a significant reverse effect on the balance of the oil market.”
An important part of China’s strategy to reduce dependence on energy imports is the processing of coal into synthetic fuel and chemical products. “Chinese companies are investing billions of dollars in the development of this industry. According to experts, today 40 million tons of coal in China are used to produce synthetic fuel and more than 260 million tons are used to produce methanol and ammonia,” Igor Sechin concluded.
Department of Information and Advertising of PJSC NK Rosneft June 21, 2025
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