Sinopec Details Hydrogen Plans

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China's biggest refiner, Hong Kong-listed Sinopec Corp., is firming up its previously fuzzy hydrogen plans with some hard numbers for 2021-25. Sinopec President Ma Yongsheng says the company plans to invest 30 billion yuan ($4.6 billion) in the entire hydrogen supply chain in 2021-25 -- from research and development (R&D) to retail fueling stations. For comparison, Sinopec plans total capital spending of 167.2 billion yuan in 2021. The company already has 20 retail stations for hydrogen vehicles up and running, compared with just 10 three months ago. It plans to develop 100 hydrogen stations by the end of this year and have 200,000 tons/yr of refueling capacity installed by 2025. Most of Sinopec's current hydrogen output is "grey" hydrogen produced from fossil fuels at its refineries, without capturing the resulting carbon emissions, but the company plans to start producing carbon-free "green hydrogen" in the coming years.

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