China: Transitioning to a low-carbon energy system?
China’s energy system is undergoing an unprecedented transition. How will this affect the oil, gas and energy markets? The Beijing Energy Club and the ONS Foundation invites to a breakfast meeting addressing China’s energy transition and its global implications.
According to new findings from the International Energy Agency (IEA), the cost of renewable energy is plummeting due to strong investment from China and India.
The 2017 World Energy Outlook claimed that China’s coal consumption, which is the principal source of emissions in the country, is declining. 2017 was the first year IEA added a section on China’s energy transition to its annual report.
The Chinese government is gradually phasing out coal, shutting down inefficient coal plants and primitive coal mines. The IEA expects China’s coal usage to peak in the next few years and then drop by 15 % by 2040.
Coal is being replaced by cleaner energy sources including renewables, gas and nuclear. One-third of the world’s new wind power and solar PV is installed in China, and almost two thirds of nuclear plants under construction. The country is making big investments in natural gas. China is also expected to account for more than 40% of global investment in electric vehicles.
“China’s choices will play a huge role in determining global trends and could spark a faster clean energy transition. The scale of China’s clean energy deployment, technology exports and outward investment makes it a key determinant of momentum behind the low-carbon transition,” the report stated.
At the breakfast meeting “China’s Energy Transition” Wednesday 29 August, speakers will address these changes and share their perspectives on the energy transition outlook.
Register for the event here. Limited seats available.
Please be aware that a Full Week Conference Pass or a Conference Day Pass for Wednesday 29 August is required to attend the breakfast meeting.
For more information about BEC: www.beijingenergyclub.org
Hear from these speakers:
- Chengyu Fu
- Vice Chairman of Beijing Energy Club and former Chairman of Sinopec Group
- John Knight
- ONS Conference Committee
- Xavier Chen
- President of Beijing Energy Club and Chief Strategy Officer of ENN Group
- Yao Li
- SIA Energy
- Remi Eriksen
- DNV GL