MOSCOW (MRC) -- China Petroleum and Chemical Corp, also known as Sinopec - the world's largest refiner by volume, has recently started construction of the largest hydrogen supply center for hydrogen fuel cells in Guangdong, according to ChinaDaily with reference to its operator.
The project will help the hydrogen sector in Guangdong rapidly develop and lift the region's hydrogen production and supply capacity.
With total investment of 62.44 million yuan (USD9.66 million), the project will adopt Sinopec's independent intellectual property rights technology and is expected to be put into operation by the first quarter next year, it said.
The company plans to invest 30 billion yuan during the 14th Five-Year Plan (2021-2025) period in hydrogen-related business, including hydrogen refueling stations and hydrogen storage facilities construction, all of which is believed to achieve carbon dioxide reduction of more than 10 million tons.
The company also plans to build 1,000 hydrogen refueling stations, 5,000 charging and battery swap stations and 7,000 distributed photovoltaic power generation sites during the 14th Five-Year Plan period. It has already built 21 hydrogen refueling stations in 14 provinces and cities, including Guangdong, Shanghai and Hainan.
As MRC reported before, in August, 2021, Sinopec, the world's petrochemical major, launched the first phase of the Gulei refining complex in Zhangzhou city in China’s southeastern Fujian province. The refining complex, a 50:50 joint venture between Sinopec’s Fujian Petrochemical Company Ltd and Taiwan Xuteng Investment Company Ltd, invested 27.8 billion yuan (USD4.28 billion) in the first phase. That will result in an 800,000 tonnes per annum ethylene plant, a 600,000 tonnes per annum styrene unit and seven other downstream petrochemical units, Sinopec said.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group's key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.