Sinopec announced on 29 December 2022 that it has released ‘China Energy Outlook 2060.’
According to the press release of SINOPEC (China Petroleum & Chemical Corporation), “it covers medium and long-term energy outlook, providing a new perspective for the scientific planning of transformation and development of China’s energy and chemical industries. This in the context of the “Dual-Carbon” goals laid out by the Chinese government, with the core goal of achieving carbon neutrality by 2060.”
Here are the key findings:
China’s primary energy consumption is expected to peak at approximately 6.03 billion tons of standard coal between 2030 and 2035, and reduce to about 5.6 billion tons of standard coal in 2060.
The energy-related carbon emissions are expected to peak at around 9.9 billion tons by 2030 after excluding the carbon sequestration of raw material energy use, and drop to 1.7 billion tons in 2060, achieving carbon neutrality through Carbon Capture Usage Storage (CCUS) technology, and carbon sinks, among other methods. /// nCa, 6 January 2023