China׳s energy security: Oil and gas

In the context of rising oil imports and implementation of China׳s 12th Five-Year Program from 2011 to 2015, this paper examines China׳s energy security strategies with a focus on three leading elements, namely overseas oil investment, strategic petroleum reserves (SPR)and unconventional gas development. Our findings suggest that the Chinese government has promoted overseas investment strongly; its SPR program has been established though the progress for Phase II has been slower than expected and the government intends to boost the unconventional gas sector development. However, the challenges are enormous as well. As for future research, other elements for each dimension of energy security should be reviewed to reach a comprehensive conclusion about how well China has done and what steps are needed to move forward.