Two Chinese government bodies, the National Development and Reform Commission and the National Energy Administration, jointly released the "15th Five-Year Plan for Oil and Gas Development" on August 17.

The plan outlines several key initiatives, including promoting a more diversified upstream gas supply market. It encourages the consolidation and restructuring of urban gas companies to standardize their operations and ensures the implementation of a linkage mechanism between natural gas upstream and downstream prices. The document also calls for regulating the conduct of gas suppliers, strengthening the foundational role of natural gas contracts, and improving the market mechanism for gas storage and peak shaving. Additionally, it emphasizes the need to secure gas supply for residential use.

The plan further proposes studying ways to refine the consumption tax system for refined oil products and improving the pricing mechanism for these products. It also mandates regular reviews of cross-provincial natural gas pipeline transportation tariffs.