The global energy supply is now in a diverse-energy era with clean energies at the dominant position. Sinopec carefully implements the "four revolutions, one cooperation" national energy security strategy, takes the initiative to follow energy transition trends, and vigorously builds the industrial pattern of “one foundation, two wings, and three new growth points” with energy resources as the foundation, clean refined products and modern chemicals as the wings and new energy, new materials, and the new economy as the important growth points.
Sinopec is active in developing shale gas, coal bed gas, geothermal, hydrogen, photovoltaic, wind power and other clean energy sources, promoting biological aviation kerosene, biodiesel and other biomass energy, developing and upgrading clean refined products, and building a clean, low-carbon, safe, and efficient modern energy system and production-sales-storage-sales system, to realize the diverse clean and safe energy supply and meet economic and social development needs and the needs of the public for better life.
Sinopec Fuling Shale Gas Field Created A New High in Daily Shale Gas Output in China
Sinopec Fuling Shale Gas Field, sitting in Chongqing City, is the first large shale gas field put into commercial development in China. It's a new milestone in the energy development history of China and a Chinese model for global shale gas development.
In November 2020, the Report on Addition of Proved Shale Gas Reserves of Dongsheng-Pingqiaoxi Wufeng Formation and Longmaxi Formation of Fuling Shale Gas Field was reviewed and approved, with proven reserve adding 191.827 billion m3. So far, the accumulated proven shale gas reserves of Fuling Shale Gas Field were 792.641 billion m3. The daily output of Fuling Shale Gas Field exceeds 20 million m3.
And the daily output is as high as 24 million m3, creating a new high in daily shale gas output in China. By 0.5 m3 for every household per day on average, it could meet the daily gas needs of 48 million households.
Shale gas is an important field of natural gas development of China. Sinopec is active in advancing the exploitation and development of Fuling and Weirong shale gas fields. Our proved shale gas reserves has been 900 billion m3, increasing the reserves of China to 2 trillion m3, a major energy guarantee for our country.
Following the guidance of the "Xiongan Mode", Sinopec is speeding up in development and utilization of geothermal energy
Geothermal energy is a green, low-carbon and recyclable renewable resource. It is characterized by mass storage, wide distribution, cleanness, environmental protection, stability, and reliability. Moreover, it is a feasible clean energy and economically competitive.
Sinopec Star Co., Ltd. had been actively exploring the development and utilization of geothermal energy since 2006. In 2009, it signed a strategic cooperation agreement on geothermal development and utilization with the People's Government of Xiongxian County to explore the "Xiongxian Model" featured by "government-enterprise cooperation, market running, unified development, advanced technology, environmental protection and benefit to common people". Over more than 10 years’ worth of development, the "Xiongxian Model" has been upgraded to "Xiongan Model". Geothermal heating has fully covered the urban areas of Xiongxian County and Rongcheng City. At the end of 2020, the geothermal business of Sinopec Star Co., Ltd. had covered Xiongan New Area in Hebei Province, Hubei, Henan, Shaanxi, and other provinces and cities. The gross heating capacity reached 60.44 million square meters, bringing clean heating to 750,000 households.
Gave play to capital incubation and leverage functions, and made an arrangement in a strategic emerging industry
In 2020, Sinopec Capital Co., Ltd. achieved positive progress in direct investments. Focusing on new energy and photovoltaic materials, it invested in Silicon Valley intelligence in Fengyang, and made an arrangement with an ultra-thin photovoltaic and photoelectric display special glass industry chain. It invested in Changzhou Better Century Film Technologies Co., Ltd. to make a layout in photovoltaic film materials. It invested in needle coke projects to assist Jinling Petro-Chemical Co., Ltd. to develop high value-added products to extend its high carbon material industry chain. Focusing on new materials, it invested in the first PLA industrial project in China, i.e. HISUN, and invested in biodegradable materials. Zhejiang Supcon Technology Co., Ltd., an intelligent manufacturing service provider, and Xinxiang Richful Lube Additive Co., Ltd., a lubricating oil additive enterprise, previously invested in by Sinopec Capital Co., Ltd., were listed, substantially increasing the values of their shareholdings. These two companies, with the main business of reshaping technology for fuel cell systems, had become one of the world's largest engine suppliers for commercial hydrogen vehicles. Fund raising and establishment achieved substantial progress. The first science and technology innovation fund, "Enze Fund", started to run formally, and the first emerging industry fund "Chaoyang Fund" was approved by the Group and under establishment.
Explore cooperative potential from multiple aspects to promote the development of the photovoltaic industry
Paying significant attention to new energy development, Sinopec made progress in the PV industry. In January 2021, Sinopec remained in cooperation with four new energy enterprises in a wider range, to a greater depth and at a higher level around the new energy industry chain. In the future, Sinopec will cooperate to build large centralized photovoltaic power generation facilities by giving full play to the advantages of the hydrogen energy industry chain. It will greatly improve the efficiency and service life of solar cells and spare no effort to reduce production costs of photovoltaic modules by paying full attention to the advantages of research and development in chemical materials. It will promote the implementation of photovoltaic projects within Sinopec through cooperation by studying the consumption advantages of internal power grids. Moreover, it will promote the construction of the integrated distributed energy demonstration project of wind, solar and hydrogen by giving full attention to the advantages of marketing networks.
Fenglei Photovoltaic Power Station of Sinopec Star
Sinopec initiated the first wind power project, with gross installed capacity of 20 MW
Decentralized wind power is a small-scale decentralized power generation mode with high efficiency and reliability, distributed to nearby users. Although its total capacity is small, it can be transmitted using the existing power grids, which are more flexible, and realize effective utilization and local consumption of wind energy resources.
In 2020, Sinopec Star Co., Ltd. participated in the development of the decentralized wind power project in Dali County, Weinan City, Shaanxi Province, marking Sinopec’s first wind power project. The project covers an area of ~35 km2 and is designed to install eight wind generating sets with a single capacity of 2.5 MW. After the establishment, the on-grid energy can reach 42.865 million kWhr/year, the equivalent of saving 13,200 tons of standard coal annually. Moreover, carbon dioxide and soot emissions disappear completely.
China VI standard oil to show Sinopec's "green responsibility"
Since 2000, Sinopec has invested more than RMB 300 billion in petroleum refining accumulatively, mainly for upgrading petroleum quality to meet China VI vehicle emission standards from lead-free gasoline to decrease carbon deposition and reduce environmental impact in an effective manner. Automotive gasoline and diesel produced by 28 refined oil production enterprises subordinated to Sinopec had reached China VI vehicle emission standards. In August 2020, ZRPC successfully delivered its first batch of 33,800 tons of gasoline and diesel that met China VI vehicle emission standards through a self-built wharf and a north Zhanjiang oil pipeline, becoming a "new member" for supplying clean energy in south China, southwest China and other markets. The output #92 gasoline applied the S-Zorb technology and the proprietary adsorbent exclusive to Sinopec for mainly treating catalytic cracking gasoline and reforming isopentane. The sulfur content of the gasoline after adsorption desulfurization (S-Zorb) was less than 10 ppm, meeting the strict requirement on sulfur levels in China VI vehicle emission standards, and reaching the highest grade (China VI B) of China VI vehicle emission standards.
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