China’s accelerating transition to curtail oil and gas demand

Rapid electrification and the adoption of renewables may allow China to trim its dependence on fossil fuels and reach net zero sooner than previously expected

China’s rapid adoption of renewables under its energy transition will allow it to bypass a period of high demand growth for—and dependence on—oil and gas, as swift electrification helps the world’s largest energy consumer to peak fossil fuel demand before the end of this decade, according to a new flagship report released during COP28. China’s energy supply has the potential to achieve carbon-neutrality before 2055—more than five years ahead of the current target of 2060—according to the China Energy Transformation Outlook (CETO) from the Energy Research Institute (ERI) under the National Development and Reform Commission, China’s top economic planning agency. The report’s analysis indicates