STATEMENT: China Launches First 10M Ton CCUS Project to Study Decarbonization Solutions

-China Launches First 10M Ton CCUS Project to Study Decarbonization Solutions for East China Industrial Enterprises.

STATEMENT: China Launches First 10M Ton CCUS Project to Study Decarbonization Solutions

-China Launches First 10M Ton CCUS Project to Study Decarbonization Solutions for East China Industrial Enterprises

Sinopec, Shell, China Baowu and BASF will explore developing open source CCUS to achieve carbon targets

SHANGHAI, Nov. 5, 2022 /PRNewswire/ -- China Petroleum

CCUS, the carbon reduction process that consists of effectively capturing and using CO from industrial emissions, is a technology that has the potential to significantly reduce emissions on a large scale and be a key component on the path to neutrality. of carbon.

The project will study the feasibility of transporting CO produced by industrial plants in the middle and lower reaches of the Yangtze River (including steel, chemical, power and cement companies) to a CO receiving station, and then transporting it to storage sites in land or sea through short-distance pipelines. Its objective is to offer industrial companies a flexible and effective solution for carbon reduction. Sinopec, Shell, China Baowu and BASF will not only support the decarbonization of current industries and the construction of low-carbon product value chains, but also accelerate the development of low-carbon products and a green circular economy. with low carbon emissions.

"Sinopec will cooperate with Shell, China Baowu and BASF to expand commercial decarbonization and actively promote the development of the entire CCUS industry chain, contributing not only to the green development of China, but also the world. Sinopec will continue to aspire to a mutually beneficial relationship with its global partners, meeting our goals of high-level opening up and green development, and working to realize our goals of carbon neutrality and reduction," said Ma Yongsheng, Chairman of Sinopec.

Sinopec is committed to leading China's industrial development of CCUS. In 2012, Sinopec launched China's first coal-fired power plant CCUS project in Shengli oilfield, and in 2015 collaborated with Sinopec Nanjing Chemical Industries Co, Ltd. and Sinopec East China Oil and Gas Company to pioneer in the use of CO resources in all its upstream and downstream companies. Sinopec captured 1.52 million tons of CO in 2021. The China link, Qilu-Shengli Oilfield CCUS project, was officially launched in early 2022.

For more information, visit Sinopec.

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