The photo is sourced from sinopecgroup.com
Carbon dioxide will be captured at the production site of Sinopec’s petrochemical subsidiary (Sinopec Qilu Petrochemical Company), and then transported to the fields of oil company Sinopec Shengli Oilfield. Compared to the original plan, CO2 injection into the reservoir for enhanced oil recovery is expected to increase production by 3 million tons in the next 15 years. “Advancement of CCUS technology could encourage efficient use of fossil fuels and accelerate transformation of traditional energy industries with high emissions, which is important for China to achieve carbon neutrality,” said Ling Boqiang, director of the China Center for Energy Economics Research of Xiamen University (Fujian Province in the southeast of China).
The Qilu-Shengli complex is one of 16 CCUS projects to be implemented in China before 2030: six of them are in the power industry, further six – in gas processing and oil and coal chemistry, and the remaining four are in all other industries according to the Oil and Gas Smart Initiative. At the same time, the country will have four CCUS hubs equipped with CO2 storage facilities. They will be located in several oil-bearing basins (Songliao and Bohai Bay in the northeast of China, Dzhungar in the northwest and Ordos in the north of the central part of the country).
As McKinsey estimates, the petrochemical industry accounts for 12% of global industrial carbon dioxide emissions. The leader in this indicator is the steel industry (26%), followed by cement production (20%), oil, gas and coal mining (21%) and all other industries (21%).