Research on China’s energy security situation and the role of central SOEs from the perspective of generalized energy

From the perspective of generalized energy, the connotation of energy security is more diversified and multi-dimensioned. In addition to traditional energy security, attention should also be paid to the politicization and financialization of energy resources. At the same time, strategic minerals required for the development of new energy industry have become a new focus of the big-power game. Under the new situation, China’s energy and resource security is generally controllable, with a foreign dependence ratio of primary energy at around 20%. However, China still faces issues from six aspects, including oil and gas production, oil and gas reserves, reliable substitution of new energy, energy resource imports, energy transportation channels, and energy risk premiums. This paper has systematically sorted out the role of central SOEs（state-owned enterprises） in ensuring energy resources. As the “main force” of national energy resource security, the central SOEs have made outstanding contributions to China’s oil, gas, and electricity supply. They are the main body of the construction of energy storage and transportation, who have rich international cooperation experience, continue to strengthen the layout of clean energy, and lead technological innovation and standard system construction. Considering the reliability, affordability, channel safety, and low-carbon level of energy supply, from the perspective of central SOEs’ advantages and mission of ensuring energy resource security, this paper proposes six optimization directions for central SOEs: energy production, reserves, cooperation, low-carbon, technology, and finance, which provides reference and guidance for central SOEs to improve their value creation ability, quality benefits, and their contribution to national economic growth.