Meeting highlights energy efficiency
By Liu Baijia (China Daily)
Updated: 2004-04-23 08:32

China should improve its energy efficiency - particularly with regard to coal and oil - find alternatives to fossil fuels and formulate a sustainable energy strategy, senior industrial officials said in Beijing.

"Energy efficiency is a major challenge for China as well as other countries and China should take serious consideration of that issue now," said Jamal Saghir, director of energy and water at the World Bank.

He said China is estimated to invest US$578 billion in energy projects from 2001 to 2010, about 2 per cent of the country's gross domestic product (GDP) over this period.

He added that if China's GDP grows by an annual average of 8 per cent over this period, its energy consumption may increase by 15 per cent.

"I think you will have some idea what the situation will be if this trend continues," Saghir told reporters in Beijing.

Wang Tao, chairman of the National Committee of the World Petroleum Congress and China's former minister of the petroleum industry, also pointed out China should control the growth of fossil fuel consumption.

He estimated that by 2020, the world's most populous country may import 180 to 250 million tons of oil, putting a huge burden on the nation.

Wang said China should control the export at the 100-million-ton level to maintain healthy economic growth.

International Energy Agency (IEA) Director Claude Mandil said the use of some sustainable energy resources may be another way China could slake its thirst for petroleum.

According to some industrial sources, China is drafting a law on the development of sustainable energy, which is expected to be completed this year.

Chinese oil giants are also working with domestic and foreign partners to find ways to develop sustainable energy, such as wind and solar power.

In a bid to ease short term energy pressures and strengthen national security, Wang Tao suggested the Chinese Government should increase its strategic stocks of oil.

It has been claimed that the country is building oil stock tanks in three places, with construction work expected to finish within this year.

Mandil estimated that when the oil tanks are all operational, China may extend its stocks from the current six days to 50 days.

A China-Montreux Energy Roundtable, initiated by Wang's committee and Switzerland's Montreux Energy Roundtable, opened yesterday with the participation of more than 160 industrial leaders from home and abroad, where they will discuss energy products and consumption, investment, the development of new energy and the sustainable use of energy.

The meeting, held for the first time in China, will last for three days.

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