Chinese company Sinopec Corp is the largest oil refiner in Asia, and with a confirmed commitment to be carbon neutral by 2050, its top executives have just announced its long term strategy is a transition to hydrogen.
Chairman Zhang Yuzhuo said as China’s largest producer of hydrogen, Sinopec will start introducing “green” hydrogen (using solar and wind power for manufacturing) over the next five years.
Part of the firm’s target by 2025 is to establish 1,000 hydrogen stations, including standalone hydrogen kiosks alongside those combining traditional fuels. Sinopec has announced it will start by building 100 hydrogen filling stations this year, 2021.
“Hydrogen will be a core in Sinopec’s energy transition. We want to become China’s number-one hydrogen firm,” said Zhang.
Zhang also said Sinopec will first focus on its existing fossil fuel-based production of hydrogen as a by-product of its refining processing, which carries the lowest cost.
Ahead of a national timeline for 2030 set by the government, Sinopec will cap its carbon emissions by increasing its hydrogen output and through the capturing of carbon dioxide.