RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2021-03-30 12:15:00

CHINA'S HYDROGEN STRATEGY

CHINA'S HYDROGEN STRATEGY

REUTERS - MARCH 29, 2021 -  China’s Sinopec Corp, Asia’s largest oil refiner aims to be carbon neutral by 2050, with its near-term strategy focused on natural gas development and a long-term pivot to hydrogen, top executives said on Monday.

As China’s largest hydrogen producer, Sinopec will focus on fossil fuel-based hydrogen production over the next five years and also start introducing “green” hydrogen using solar and wind power, Chairman Zhang Yuzhuo said in an earnings call.

Sinopec plans to build 100 hydrogen filling stations this year, part of the firm’s goal to set up 1,000 stations by 2025, including standalone hydrogen kiosks and those combined with traditional fuels.

“Hydrogen will be a core in Sinopec’s energy transition ... We want to become China’s number-one hydrogen firm,” said Zhang.

Sinopec will first focus on its existing fossil fuel-based production of hydrogen, which carries the lowest cost since it is a by-product of its refining and petrochemical processing, said Zhang.

It is also planning to cap its carbon emissions at peak levels prior to a national timeline set by the government for 2030, both through its work to increase hydrogen output and the treatment and capture of carbon dioxide.

Another key area for spending will be natural gas, of which Sinopec is China’s second-largest producer. Demand for the fuel is set for strong growth over the next decade under Beijing’s campaign to burn less coal.

Following a “significant” increase in replacement of gas reserves last year, Sinopec expects to grow its natural gas production by an average of more than 10% a year over the next three years, said company president Ma Yongsheng.

Sinopec expects its gas output to reach 34 billion cubic meters (bcm) this year, and 38 bcm and 42 bcm for 2022 and 2023 respectively, said Ma, against 30.2 bcm last year.

-----


Earlier:

CHINA'S HYDROGEN STRATEGY
2021, March, 26, 12:05:00
CHINA RENEWABLES SUPPORT
China will preferentially give subsidies to wind and solar power companies, and further step up credit and loan support.
CHINA'S HYDROGEN STRATEGY
2021, March, 10, 12:15:00
CHINA'S NUCLEAR COAL
China announced its aim to increase its nuclear power capacity by 40% from 50 GW in 2020 to 70 GW in 2025. However, the 2021-2025 plan isn't expected to slow down the construction of new coal-fired power plants.
CHINA'S HYDROGEN STRATEGY
2021, March, 9, 12:45:00
CHINA NEED NUCLEAR POWER
China said in its 2021-2025 five-year plan released on Friday that it would raise total nuclear capacity to 70 gigawatts (GW) by the end of 2025.
CHINA'S HYDROGEN STRATEGY
2021, March, 4, 11:50:00
CHINA NUCLEAR LEADERSHIP
The contribution of nuclear power could decline substantially in several leading markets while large growth is coming, as China takes first position within a decade
CHINA'S HYDROGEN STRATEGY
2021, March, 3, 12:35:00
CHINA'S CLEAN ENERGY PLAN 1,000 GW
State Grid expects wind and solar installed capacity to hit 1,000 GW by 2030
CHINA'S HYDROGEN STRATEGY
2021, February, 26, 11:35:00
CHINA OFFSHORE WIND UP 3.1 GW
The offshore wind industry installed just over 6 GW of new capacity globally in 2020, nearly the same levels as the previous year.
CHINA'S HYDROGEN STRATEGY
2021, February, 12, 11:40:00
CHINA'S CLEAN ENERGY 40%
China grid companies will steadily increase the amount of power purchased from clean generation sources from 28.2% in 2020 to 40% by 2030,
All Publications »
Tags: CHINA, HYDROGEN, GAS
Chronicle:
CHINA'S HYDROGEN STRATEGY
2021, June, 10, 12:39:00
Which Actions Can Fuel The Industry: The 7th International LNG Congress Summary
Global view on the LNG industry future, actions in frames of IMO Regulations, alternative fuels for trucks and fleet, opportunities of LNG increase in Europe, and Bio-LNG and LNG-to-Power initiatives have become some of the topics of the 7th International LNG Congress. It was held at the BGS online platform on the 7-8 of June, and gathered more than 500 decision-makers of the LNG industry.
CHINA'S HYDROGEN STRATEGY
2021, June, 10, 12:35:00
U.S. OIL INVENTORIES DOWN 5.2 MB TO 474.0 MB
U.S. commercial crude oil inventories decreased by 5.2 million barrels from the previous week to 474.0 million barrels.
CHINA'S HYDROGEN STRATEGY
2021, June, 10, 12:30:00
TC ENERGY HAS TERMINATED KEYSTONE
TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) confirmed today that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project (the Project).
CHINA'S HYDROGEN STRATEGY
2021, June, 9, 12:55:00
OIL PRICE: ABOVE $72
Brent rose 73 cents, or 1%, to close at $72.22 a barrel, WTI rose 82 cents, or 1.2%, to settle at $70.05 a barrel,
CHINA'S HYDROGEN STRATEGY
2021, June, 9, 12:50:00
OIL PRICES 2021-22: $68-60
EIA forecasts that Brent prices will remain near current levels in 3Q21, averaging $68/b., and $60/b in 2022.
CHINA'S HYDROGEN STRATEGY
2021, June, 9, 12:45:00
OPEC+ OIL PRODUCTION UP 430 TBD
Despite the production gains, the looser quotas meant OPEC+ compliance stayed mostly steady at 111.45% compared to 111.16% in April,
CHINA'S HYDROGEN STRATEGY
2021, June, 9, 12:40:00
EUROPEAN TRANSITION FUND €17.5BLN
The Council of the European Union has approved a regulation creating the €17.5bn Just Transition Fund (JTF).
All Publications »