January 2, 2023 - China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant China Petroleum & Chemical Corporation (Sinopec) said in its ‘China Energy Outlook 2060’ report.
However, consumption is forecast to reduce to about 5.6 billion tonnes of standard coal in 2060, it added.
Energy-related carbon emissions will peak at around 9.9 billion tonnes by 2030 and drop to 1.7 billion tonnes in 2060, achieving carbon neutrality through carbon capture usage storage (CCUS) technology and carbon sinks, amongst other methods.
This is Sinopec's first publicly released research findings of their 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.