Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy
The “One Belt and One Road” strategy provides a new opportunity for deepening oil and gas energy cooperation between China and Central-North Asian countries. This paper systematically studies the supply and demand characteristics, interdependence and cooperation prospects of oil and gas between them...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-10-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/16/21/7326 |
| _version_ | 1797632034719399936 |
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| author | Mingchen Duan Yi Duan |
| author_facet | Mingchen Duan Yi Duan |
| author_sort | Mingchen Duan |
| collection | DOAJ |
| description | The “One Belt and One Road” strategy provides a new opportunity for deepening oil and gas energy cooperation between China and Central-North Asian countries. This paper systematically studies the supply and demand characteristics, interdependence and cooperation prospects of oil and gas between them using relevant oil and gas energy data of these countries from 2016 to 2021. The objective of this research is to provide a basis for the overall planning of oil and gas energy cooperation between China and Central-North Asian countries in the future. The results show that the proven reserves of oil and gas in Central-North Asian countries are high; particularly, the proven reserves of natural gas account for 30% of the world. These countries also have high oil and gas self-sufficiency rates. These have laid a material foundation for China to strive for the sustained and stable import of oil and gas energy from Central-North Asian countries. At the same time, there are great imbalances in oil and gas reserves, production, consumption, available exports and their growth rates among Central-North Asian countries, which provide a basis for China and Central-North Asian countries to make strategic decisions on oil and gas energy differential cooperation. China imports 80 × 10<sup>6</sup> tons of oil and 490 × 10<sup>8</sup> cubic meters of gas from Central-North Asian countries every year and Chinese dependence on oil and gas imports in this region is 16% and 37%, respectively. The study believes that China has certain potential to increase the import of oil and gas from Central-North Asian countries and has good prospects for oil and gas cooperation. It is proposed that China should give priority to increasing oil and gas exploration and development cooperation with Central-North Asian countries with high oil and gas reserve–production ratios, and should strengthen oil and gas resource trade cooperation with Central-North Asian countries with high oil and gas self-sufficiency rates. At the same time, China should increase investment and cooperation in the midstream and downstream business of the oil industry in major Central-North Asian countries through various financing channels. China should uphold the principle of win–win cooperation to promote the in-depth and steady development of oil and gas energy cooperation between China and Central-North Asian countries. |
| first_indexed | 2024-03-11T11:31:11Z |
| format | Article |
| id | doaj.art-f1f76a53a109459482de65816ffe8a87 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-11T11:31:11Z |
| publishDate | 2023-10-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-f1f76a53a109459482de65816ffe8a872023-11-10T15:02:12ZengMDPI AGEnergies1996-10732023-10-011621732610.3390/en16217326Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” StrategyMingchen Duan0Yi Duan1Business School, Gansu University of Political Science and Law, 6 West Anning Road, Lanzhou 730070, ChinaGansu Provincial Key Laboratory of Petroleum Resources, Lanzhou Center for Oil and Gas Resource, Northwest Institute of Eco-Environment and Resources, Chinese Academy of Sciences, Lanzhou 730000, ChinaThe “One Belt and One Road” strategy provides a new opportunity for deepening oil and gas energy cooperation between China and Central-North Asian countries. This paper systematically studies the supply and demand characteristics, interdependence and cooperation prospects of oil and gas between them using relevant oil and gas energy data of these countries from 2016 to 2021. The objective of this research is to provide a basis for the overall planning of oil and gas energy cooperation between China and Central-North Asian countries in the future. The results show that the proven reserves of oil and gas in Central-North Asian countries are high; particularly, the proven reserves of natural gas account for 30% of the world. These countries also have high oil and gas self-sufficiency rates. These have laid a material foundation for China to strive for the sustained and stable import of oil and gas energy from Central-North Asian countries. At the same time, there are great imbalances in oil and gas reserves, production, consumption, available exports and their growth rates among Central-North Asian countries, which provide a basis for China and Central-North Asian countries to make strategic decisions on oil and gas energy differential cooperation. China imports 80 × 10<sup>6</sup> tons of oil and 490 × 10<sup>8</sup> cubic meters of gas from Central-North Asian countries every year and Chinese dependence on oil and gas imports in this region is 16% and 37%, respectively. The study believes that China has certain potential to increase the import of oil and gas from Central-North Asian countries and has good prospects for oil and gas cooperation. It is proposed that China should give priority to increasing oil and gas exploration and development cooperation with Central-North Asian countries with high oil and gas reserve–production ratios, and should strengthen oil and gas resource trade cooperation with Central-North Asian countries with high oil and gas self-sufficiency rates. At the same time, China should increase investment and cooperation in the midstream and downstream business of the oil industry in major Central-North Asian countries through various financing channels. China should uphold the principle of win–win cooperation to promote the in-depth and steady development of oil and gas energy cooperation between China and Central-North Asian countries.https://www.mdpi.com/1996-1073/16/21/7326the “one belt and one road” strategyoil and gas supply and demandChina and Central-North Asian countriesinterrelationshipscooperation strategy |
| spellingShingle | Mingchen Duan Yi Duan Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy Energies the “one belt and one road” strategy oil and gas supply and demand China and Central-North Asian countries interrelationships cooperation strategy |
| title | Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy |
| title_full | Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy |
| title_fullStr | Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy |
| title_full_unstemmed | Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy |
| title_short | Research on Oil and Gas Energy Cooperation between China and Central-North Asian Countries under the “One Belt and One Road” Strategy |
| title_sort | research on oil and gas energy cooperation between china and central north asian countries under the one belt and one road strategy |
| topic | the “one belt and one road” strategy oil and gas supply and demand China and Central-North Asian countries interrelationships cooperation strategy |
| url | https://www.mdpi.com/1996-1073/16/21/7326 |
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