Sinopec touts geothermal achievements in China at stakeholder event

The China Petroleum & Chemical Corporation (Sinopec) cited their milestones in the field of geothermal development in China as one of the company’s ten achievements during the “Touching Sinopec” stakeholder event held in Beijing. The event is the first time that Sinopec has announced the practical results of their projects to help support China’s modernization in the field of energy security, industrial development, and scientific and technological innovation.

The achievement touted by Sinopec in geothermal are as follows:

• Building China’s first “smoke-free city” in Xiong County in Hebei Province. By deriving all of its heat from geothermal energy, the “Xiong County Model” has been established as a model to be replicated in other territories.
• Providing geothermal heating to more than 90 cities in China. Geothermal heating coverage exceeds one million square meters in 22 cities, and exceeds 100 million square meters in 72 cities. With this, Sinopec has become the country’s largest medium-deep geothermal energy development and utilization enterprise.
• Drilling of Fushen-1, the country’s first deep geothermal scientific exploration well to a depth of over 5000 meters, thus opening up new horizons in deep geothermal research and utilization.
• Hosting of the 2023 World Geothermal Congress in Beijing.

During the event, Sinopec also highlighted notable achievements in carbon capture utilization and storage, development of the petrochemical industry, shale gas, and green hydrogen production.

Ma Yongsheng, President of Sinopec, stated that the company will be steadfast in upholding the three principles of energy sustainability, new industrialization, and scientific and technological self-reliance. Sinopec strives to create more “firsts” in the energy industry towards the continuing modernization of China.

Source: Securities Market Information Disclosure Media (jjckb.cn)