Sinopec's preliminary budget will fund the necessary R&D, production of hydrogen, purification, treatment, storage and transport facilities. The company will also upgrade its refineries and petrochemical plants to use "green" hydrogen in their operations to reduce their carbon footprint. The goal is to avoid 10 million tpy of CO2 by 2025.
The company also plans to install 7,000 solar power projects totaling 400 MW at its network of 30,00 fuel stations and increase its low carbon plant-based fuel supply capacity to provide 100,000 tpy of aviation biofuel (SAF) and 1.45 million tpy of ethanol by 2025.
Sinopec emitted 170.9 million tonnes of greenhouse gases in 2020, 84 pct of which were attributed to its oil refining and chemicals manufacturing operations, according to its latest sustainability report. (Source: Sinopec, S.China Morning Post, Sept., 2021) Contact: Sinopec, www.sinopecgroup.com
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Arctic Green Energy has been working towards the decarbonisation of the building sector, most recently through the development of major geothermal company Sinopec Green Energy in China, jointly owned by China Petroleum & Chemical Corp. (Sinopec) and Arctic Green Energy. (Source: Arctic Green Energy, PR, 27 July., 2021) Contact: Arctic Green Energy, Haukur Hardarson, Chairman, +354 558 0880, www.arcticgreencorp.com; GIC, www.gic.com.sg; Sinopec, www.sinopecgroup.com
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The Project, expected to be put into production by the end of 2021, is considered "significant" to China's carbon emissions reduction capabilities and reaching it announced goal of reaching "peak carbon emissions by 2030 and carbon neutrality by 2060."
The Project is expected to cut carbon emissions by 1 million tpy -- equivalent of planting roughly 9 million trees or eliminating 600,000 cars. (Source: Sinopec, PR, July, 2021) Contact: Sinopec, www.sinopecgroup.com
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According to the China Hydrogen Energy Alliance, by 2050, China's annual hydrogen demand will be close to 60 million tpy, which would help the country cut 700 million tpy from its carbon dioxide emissions.
Sinopec currently produces 3.5 million tpy of hydrogen. In 2020, the company began construction of an integrated hydrogen energy industry chain including hydrogen refueling stations and 10 oil-hydrogen blending stations and plans to establish 1,000 addition hydrogen refueling stations over the next 5 years.
As of the end of 2020, China had 128 hydrogen refueling stations ranking second worldwide only to Japan.
(Source: Sinopec, PR, 11 Mar., 2021) Contact: Sinopec, www.sinopecgroup.com; China Hydrogen Energy Alliance, www.h2cn.org
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And in terms of greenhouse gas recovery and utilization, Sinopec is focusing on promoting the recovery and utilization of high-concentration CO2 tail gas from refining and chemical enterprises, carrying out CO2 flooding field tests and methane gas release recovery.
Carbon emissions peak refers to the inflection point of total CO2 emission, after which the emissions will begin to decline. The carbon neutral target aims to achieve low-carbon and zero-carbon transformation of energy, realizes zero CO2 emissions, reduce other types of greenhouse gas emissions significantly as well as total man-made greenhouse gas emissions to zero through increasing carbon sinks and artificial negative emission measures.
In recent years, Sinopec has promoted its green and low-carbon development tactic for the corporate development strategy, actively control its greenhouse gas emissions to achieve significant carbon emissions results. In the area of clean energy development, Sinopec has expanded its construction of natural gas production capacity and promoted the development of new energy resources such as biomass energy and geothermal energy, while driving forward the development and utilization of hydrogen energy. (Source: SINOPEC, PR, 24 Nov., 2020) Contact: SINOPEC, www.sinopecgroup.com/group
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