Sinopec bets big on geothermal energy, state-owned oil & gas giant to usher in the era of smokeless cities in China
Category: #world  By Saipriya Iyer  Date: 2017-08-16
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Sinopec bets big on geothermal energy, state-owned oil & gas giant to usher in the era of smokeless cities in China

In an endeavor to render the Xiongxian county smoke-free, Sinopec Corporation has recently declared that it intends to enhance the production and consumption of geothermal energy in the region. As reported by authentic sources, the Chinese government owned oil & gas firm, also called the China Petroleum & Chemical Corporation, has expressed a dire interest in expanding the utilization scope of geothermal energy in the Xiongxian county of the Hebei province in China.

For the record, the Xiongxian county is a part of the Xiongan New Area, situated around 100 km to the southwest of Beijing. Sinopec states that around 60% of the Xiongxian county is abundant with geothermal energy resources – the capacity of the hydro-geologic water reserves in the region has been speculated to be around 82.1 billion cubic meters. As quoted by one of the chief engineers of Sinopec Corp., geothermal energy has the capacity to reduce carbon footprints by replacing the usage of coal-fired heat, to quite a modest extent.

Further details obtained from certified reports claim the regional groundwater temperature to surpass around 55 degree Celsius, which is equivalent to around 6.63 billion metric tons of coal. Besides, the geothermal energy heating capacity in the Xiongxian county had reached around 4.5 million square meters by July already, making it one of richest sources of geothermal energy production in the country.

Sinopec’s decision to enhance the geothermal energy in the region has been aptly based on the area’s superior capability to facilitate the same. Sinopec also plans to create at least 20 smokeless cities across the country, to replace coal with geothermal energy, and thereby covering around 100 million square meters as outlined in the 13th Five-Year Plan.

China’s geothermal bonanza as depicted in the 13th Five-year Plan:

  • As reported by anonymous top-shots, the Chinese government is committed to raise the consumption of non-fuel based energy in the country to 15% by 2020, and 30% by 2030, which, as per experts, will invariably boost the regional geothermal energy market.
  • China, already rich in geothermal energy resources (courtesy: the Tibet, Sichuan, and Yunnan provinces), plans to increase the installed capacity in the overall geothermal segment by 500 GW over 2016-2020, which may require an investment of USD 5.8 billion. Additionally, the region aims to increase the geothermal heating area by 1.1 billion square meters.
  • Reports also claim the geothermal resource in the Hebei province equals to around 5 billion tons of standard coal.

As the experts state, Sinopec may have made one of most lucrative decisions in recent times, as regards to the improving the geothermal energy production in the country. This decision is also a remnant of the fact that Sinopec Corporation seems to be highly intent on diversifying its service portfolio beyond oil and gas production.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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