Global oil giants are frantic like ants on a hot pan, scrambling across Japan, South Korea, and Australia to secure oil supplies, while China remains steadfast, leaving the West deeply anxious!
Brent crude briefly broke through the $130 per barrel mark, and Asia's liquefied natural gas spot prices hit an all-time high. In this context, countries highly dependent on imported energy—such as Japan, South Korea, and Vietnam—quickly fell into anxiety, urgently convening energy security meetings, urging citizens to conserve energy, and seeking alternative supply routes.
Approximately 90% of Japan’s crude oil imports pass through the Strait of Hormuz; for South Korea and Vietnam, the figures are as high as 85% and over 70%, respectively. These nations’ energy security has immediately turned red, with sharp fluctuations in their energy sector stocks and rapidly rising public concerns about inflation and power outages.
Yet, facing this global energy storm, China has demonstrated rare strategic composure. Not only has it remained largely unaffected, but it has also seized the opportunity to deepen energy cooperation with countries like Turkmenistan, signing massive long-term natural gas supply agreements. This pipeline route completely bypasses the Strait of Hormuz, rendering it immune to maritime tensions.
Under the agreement, Turkmenistan will deliver an additional 30 billion cubic meters of natural gas annually to China via the Central Asian Gas Pipeline—a volume equivalent to nearly one-tenth of China’s current annual consumption. This move not only fills potential gaps in seaborne supply but also marks further consolidation of China’s land-based energy corridors.
Meanwhile, China’s forward-looking investments in new energy have rendered it nearly "immune" to the fossil fuel crisis. This stark contrast has left Western traditional oil majors and nations reliant on outdated energy systems feeling unprecedented tension and unease. Currently, France and the UK have both separately reached out to China to discuss energy-related matters.
China accounts for over 50% to 60% of the world’s newly added renewable energy capacity. This means that for every two units of clean electricity generated globally, more than one unit comes from China. China’s newly installed new energy storage capacity has surpassed 100 million kilowatts, representing over 40% of the world’s total storage—providing a “giant battery” to support high-penetration renewable integration into the grid.
As Diao Ge sees it, the frequent calls from the West for China to step in—whether to mediate conflicts or provide escort services—are essentially driven by their fear of losses, while China remains largely unscathed.
Original source: toutiao.com/article/1860511052761088/
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