China Petrochemical Corporation (Sinopec Group) on Nov 4 signed a memorandum of understanding with Shell, China Baowu Steel Group Corporation Limited and BASF on development of China's first open-source 10 million-metric ton carbon capture utilization and storage (CCUS) project.
The project is planned to be built in East China to support industrial decarburization as part of a low-carbon product supply chain.
Carbon sourced from enterprises along the Yangtze River will be transported to the carbon receiving center by tankers and then be transmitted to the inland and offshore storage stations through pipelines.
Sinopec Group has committed to taking the lead in China's CCUS industry. The country's first 1 million-ton CCUS project, which is operated by the company, was put into operation this year.
In 2021, the company has captured 1.52 million tons of carbon dioxide. In the country's 14th Five-Year Plan (2021-25) period, Sinopec Group will step up efforts to develop CCUS projects and contribute to realizing China's "dual carbon" goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.
(Executive editor: Wang Ruoting)