Sinopec Launches China's First Megaton Scale Carbon Capture Project
The Project, expected to be put into production by the end of 2021, marks a key milestone in the construction progress of
CCUS is an important technical means to cope with global climate change and control greenhouse gas emissions, capturing and purifying carbon dioxide emitted during production and utilizing it in a new production process for recycling and storage.
The megaton-scale Project launched by Sinopec consists of two parts – Sinopec Qilu's carbon dioxide capture and
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The Project is estimated to reduce carbon emissions by 1 million tons per year, the equivalent of planting nearly 9 million trees and shutting down 600,000 economy cars.
As an essential technological path for achieving carbon neutrality, CCUS has tremendous potential for emissions reduction and broad prospects for industrial use. Studies have shown that CCUS will neutralize
Mr. Zhang Yuzhuo, Chairman of Sinopec, noted that CCUS is an important measure to effectively promote carbon emissions reduction.
"According to IEA, CCUS will contribute about 14 percent of carbon dioxide emissions reduction by 2050, and the market application prospects are very promising. Developing CCUS is a trend as well as a mission. Sinopec will research and establish a carbon capture, utilization and storage R&D center to advance a series of core technologies and bottleneck problems throughout the links of carbon capturing, transportation, utilization and storage, as well as a carbon dioxide utilization technology innovation system of 'technological development-project demonstration-industrialization,' extending the clean carbon sequestration industry chain and creating an innovative hub for carbon emissions reduction technologies," said
Sinopec aims to build another megaton CCUS demonstration base in the next five years, realizing industrialized CCUS development and widening further prospects as
Sinopec sets 'fueling beautiful life' as its corporate mission, puts 'people, responsibility, integrity, precision, innovation and win-win' as its corporate core values, pursues strategies of value-orientation, innovation-driven development, integrated resource allocation, open cooperation, and green and low-carbon growth, and strives to achieve its corporate vision of building a world leading energy and chemical company.
For more information, please visit Sinopec.
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