[Policy Update] NDRC and NEA Jointly Issue "15th Five-Year Plan for Oil and Gas Development"

📰 News Highlight

Recently, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) jointly issued the "15th Five-Year Plan for Oil and Gas Development" (the "Plan").

⚙️ Core Components

1.       Quantitative Supply and Infrastructure Targets: By 2030, domestic oil and gas supply will reach 440 million tons of oil equivalent. Long-distance oil and gas pipelines will expand to 220,000 km.

2.       Decarbonization and CCUS Expansion: The Plan coordinates energy-saving and carbon reduction across the entire oil and gas value chain. It explicitly sets an annual CO₂ injection scale of 10 million tons for CCS/CCUS projects by 2030.

💡 Key Takeaways

1.       Balancing Energy Security with Multi-Energy Integration: The policy coordinates upstream exploration, pipeline network upgrades, refining enhancements, and methane emission controls.

2.       Transitioning Traditional Oil & Gas Majors: The framework promotes the orderly peaking of domestic petroleum consumption. It accelerates the strategic transformation of traditional oil and gas state-owned enterprises into diversified, integrated energy service providers.

[Market Update] CATL Reaches Operational Carbon Neutrality and Unveils 2035 Value Chain Roadmap

CATL has recently held a conference to announce that it achieved carbon neutrality across its core operations by the end of 2025. The battery giant also unveiled its roadmap to reach full value chain carbon neutrality by 2035.

💡 Key Takeaways

1.       Expanding Decarbonization from Core Operations to the Supply Chain: CATL has mapped the carbon data of over 100 Tier-1 suppliers via its proprietary "CREDIT" platform. It is launching a Green Procurement Guideline and a Zero-Carbon Supply Chain Enablement Program.

2.       Exporting Zero-Carbon Manufacturing Standards: CATL is transitioning from internal decarbonization to exporting zero-carbon production standards across the broader new energy ecosystem.

[Carbon Market]

During August 24 – August 28, the total transaction volume of Carbon Emission Allowances (CEA) in the Chinese National Carbon Market reached 9,280,930 tons, with a total transaction value of USD 129,052,936.70. The highest price was USD 14.54/ton, and the lowest price was USD 13.37/ton. For bulk agreement transactions, the volume was 7,684,000 tons, with a transaction value of USD 105,702,350.95.