Sinopec Accelerates Hydrogen Development To Build A Global Leading Clean Energy Chemical Company

1,000 hydrogen filling stations will be built over the next five years

Beijing / PRNewswire / - Mr. Ma Yongsheng, President of China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") and an academic at the Chinese Academy of Engineering, proposed the development of the hydrogen industry during the two sessions that were held in Beijing recently. Mr. Ma suggested that more efforts should be made in the areas of top-level design, core technology, R&D, standard systems formulation, and industrial policy support.

As a secondary energy source, hydrogen is playing an increasingly important role on the world stage. At present, China has made significant advances in hydrogen energy technologies, but the hydrogen energy industry remains in the pilot demonstration and promotion phase.

Mr. Ma pointed out the many benefits of hydrogen energy, such as the multiple sources, zero-end discharge, and wide range of uses. According to the International Hydrogen Council, hydrogen energy will reduce carbon dioxide emissions by six billion tons by 2050. Meanwhile, the China Hydrogen Energy Alliance predicts that China's annual hydrogen needs will be close to 60 million tons by 2050, which would help the country cut 700 million tons of its carbon dioxide emissions.

Since 2020, China has successively published the "Announcement on the Introduction of Demonstration Applications for Fuel Cell Vehicles" and the "Development Plan for New Energy Vehicle Industry (2021-2035)", as well as supporting plans and strategies to promote research and development in the field of hydrogen energy, production, storage , Transportation and application have been introduced by local authorities across China . As of the end of 2020, China had a fleet of 7,352 fuel cell vehicles, 128 hydrogen filling stations with 101 were already in operation and ranked second only after Japan in the world .

Sinopec currently produces 3.5 million tons of hydrogen per year. In 2020, Sinopec began to drive and accelerate the building of an integrated hydrogen energy industry chain in various areas - capital operation, technology R&D, production storage and transportation, network distribution and social collaboration.

Sinopec has built hydrogen filling stations in Guangdong , Shanghai , Zhejiang , Guangxi and more, and 10 oil-hydrogen blending stations are now in operation.

As part of China's 14th Five-Year Plan, Sinopec has included "clean" in its corporate vision for the first time. With the goal of building China's largest hydrogen energy company, Sinopec will also promote clean energy building by accelerating the conversion of hydrogen sources from gray hydrogen to blue and green hydrogen.

"During the fourteenth five-year plan, Sinopec will build 1,000 hydrogen filling stations and transform them into a service provider for oil, gas, hydrogen, electricity and non-oil companies," said Mr. Ma. "In the future, Sinopec filling stations will not only pump gasoline and diesel, but also hydrogen and electricity, among other things."

In order to better promote the market application of the hydrogen energy industry, Sinopec, as the official partner of the 2022 Winter Olympics, will guarantee the supply of clean energy for the construction and operation of the infrastructure of the game in order to make a "Green Winter Olympics" possible

Therefore, Sinopec Beijing Yanshan Petrochemical Company has built a hydrogen purification plant, which successfully produced hydrogen with a purity of over 99.9 percent in March, in 2020 a daily production capacity of 500 kilograms of battery hydrogen products will be achieved to meet the demand of the market.

About Sinopec
Sinopec Corp. is one of the largest integrated energy and chemical companies in China . The main duties include the exploration and production, pipeline transportation and sales of petroleum and natural gas; the sale, storage and transportation of petroleum products, petrochemical products, coal chemical products, synthetic fibers, fertilizers and other chemical products; Import and export of petroleum, natural gas, petroleum products, petrochemical and chemical products and other raw materials and technologies, including import and export agencies; and research, development and application of technologies and information.

Sinopec sets 'Firing the Beautiful Life' as its corporate mission, sets 'People, Responsibility, Integrity, Precision, Innovation and Win-Win' as its corporate core values, pursues strategies of value orientation, innovation-driven development, integrated resource allocation, open collaboration and green and low-carbon growth and strives to achieve his corporate vision of building a leading global energy and chemical company.