UPDATE 1-China sets moderate nuke power target, to accelerate unconventional resources

(Adds nuclear power target; unconventional oil, gas development)

BEIJING, March 5 (Reuters). China announced on Friday that it will take active and orderly steps to develop its nuclear power to ensure safe use in 2021 and has set a moderated target for expanding the sector over the next 5 years.

China, the third largest nuclear power producer in the world, is aiming for an installed capacity of 70 gigawatts (GW) by 2025, the government announced in its plan for 2021-2025, which was presented to parliament on Friday.

China originally intended to increase installed core capacity to 58 GW by 2020 and have at least 30 GW under construction, but was unable to meet the target after a long moratorium on new projects and delays in new third-generation plants.

The government also called for the unconventional development of oil and gas resources to accelerate over the five-year period, including deep-sea offshore China and deep-sea reservoirs, which require more sophisticated equipment manufacturing and drilling technology.

The world’s largest energy consumer will continue to expand its infrastructure spending, particularly on natural gas, through 2025, including the construction of long-distance pipelines to transport gas from Russian Siberia and a second gas pipeline project from southwestern Sichuan to the east.

The country will further reduce electricity charges for industry and trade this year. (Reporting by Beijing Newsroom; writing by Chen Aizhu in Singapore; editing by Tom Hogue and Christian Schmollinger)

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