Sinopec plans to spend $4.6 bln on hydrogen energy by 2025

Reuters

30 August, 2021, 09:05 am

Last modified: 30 August, 2021, 09:11 am

Sinopec plans to spend $4.6 bln on hydrogen energy by 2025

Reuters

30 August, 2021, 09:05 am

Last modified: 30 August, 2021, 09:11 am

A Sinopec logo is seen on top of a logo of Easy Joy store at a gas station in Beijing, September 16, 2011. REUTERS/Sean Yong

China's Sinopec Corp plans initial spending of 30 billion yuan ($4.6 billion) on developing hydrogen energy by 2025, as the Chinese state oil and gas major pivots to hydrogen and natural gas to reach carbon neutrality by 2050.

Sinopec said on Monday it also aimed to have 200,000 tonnes annual capacity for hydrogen refuelling by 2025.

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