Does China Have an ‘Energy Diplomacy’? Reflections on China’s Energy Security and its International Dimensions

Linda Jakobson

Chapter 8 in Energy Security, 2008, pp 121-134 from Palgrave Macmillan

Abstract: Abstract China’s energy security is of interest to outsiders for three principal reasons. First, China’s growing demand for oil has an immediate as well as long-term economic impact on the rest of the world. China is already becoming a major force in world energy markets. As is well known, China’s oil imports have grown markedly in the past decade or so. This raises the question of how much oil China (and India) will need to import twenty years from now and of how quickly the world’s oil reserves will be depleted if China’s economic growth and its need for imported oil continue. A mere fourteen years ago China was self-sufficient in oil; today, with imports of nearly 3 million bar­rels per day (mbd), it is the world’s third largest importer of crude oil after the United States (nearly 14 mbd) and Japan (over 5 mbd).2 If China’s rapid economic growth continues, China will need to import 60–80 per cent of its total domestic oil consumption by 2020, anywhere from 6 to 11 million barrels per day.3 China’s increasing need for foreign oil has also been blamed for rises in oil prices and volatility in the global oil spot market .4

Keywords: Foreign Policy; Energy Security; Chinese Foreign Policy; Chinese Official; China National Petroleum Corporation (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230595002_8

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