Sinopec to increase clean energy capacity

China Petroleum& Chemical Corp has pledged to increase its share of clean energy production capacity to more than 50 percent within six years, through increasing its output of natural gas, shale gas and related facilities.

The company, also known as Sinopec, said it aims to open 1,000 more natural gas vehicle fueling stations within six years, boosting its annual natural gas supply capacity to 60 billion cubic meters, with gas pipelines in operation reaching 10,000 kilometers and its LNG receiving and transferring capacity exceeding 26 million metric tons per year by 2023.

As a major supplier of geothermal heating in China, the company, which is also the nation's largest oil refiner, aims to boost its geothermal heating capacity to 120 million cu m by 2023, accounting for 40 percent of the domestic market, said Lyu Dapeng, spokesperson of the company.