Aerial photo taken on April 26, 2020 shows power-generating windmill turbines in Weining County, southwest China's Guizhou Province. (Xinhua/Tao Liang)
BEIJING, March 30 (Xinhua) -- China's leading oil and gas producers including China Petroleum & Chemical Corporation (Sinopec) and PetroChina Company Limited (PetroChina) have recently announced to achieve early carbon peaking before 2030.
China is committed to peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.
Sinopec will adhere to green transition and strive to achieve carbon peaking before the national carbon peaking target and carbon neutrality by 2050, according to Zhang Yuzhuo, chairman of Sinopec at a video conference on Monday.
Zhang said that Sinopec will take hydrogen energy as the main direction of the company's new energy business. During the 14th Five-Year Plan period from 2021 to 2025, it will plan to build 1,000 hydrogen refueling stations or oil-hydrogen combined stations.
Meanwhile, it will improve and upgrade the oil product sales network, vigorously develop degradable materials, high-end polyolefins, and high-end synthetic rubbers, and achieve major breakthroughs in the development of new materials, Zhang added.
Sinopec will also focus on the entire natural gas industry chain in terms of traditional fossil energy. In the next three years, it plans to maintain double-digit annual growth in natural gas production, according to Zhang.
Dai Houliang, chairman of PetroChina, said at the annual results conference held last week that the company will seize opportunities of low-carbon transformation in the energy industry and make efforts to achieve carbon peaking around 2025 and net zero emissions around 2050.
In the face of challenges such as epidemic and the sharp decline in international oil prices, the company has vigorously implemented the green and low-carbon transformation, with its production and operations maintaining stable operations. In 2020, its natural gas production was 3,993.8 billion cubic feet, a year-on-year increase of 9.9 percent, according to Dai.
PetroChina will give full play to its advantages in natural gas resources, and promote further growth in natural gas production. It is hoped that by 2025, the company's natural gas share will increase to about 55 percent.
The company will also make good use of its rich resources such as wind power and geothermal energy, and promote its transformation into a comprehensive energy company for oil, gas, heat, power and hydrogen, said Dai. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
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