SHANGHAI - China Oil and Gas Pipeline Network, or PipeChina, aims to bring its carbon emission and energy consumption to a peak before 2030, a company manager said on Wednesday.
The target follows China's pledge for peak national CO2 emissions by 2030, as it aims to become carbon neutral before 2060. China has not revealed absolute carbon emissions, but analysts estimate they could have exceeded 11.5 billion tonnes of CO2 equivalent in 2019.
State-backed PipeChina emitted about 13.2 million tonnes of carbon dioxide in 2020 and is expected to put out 17.6 million in 2025 before reaching a peak by 2030.
"Currently, most of the carbon emissions at PipeChina are coming from our electricity and natural gas consumption," said Tang Shanhua, the firm's deputy general manager of business operations, said at an industrial summit.
Electricity accounted for about a third of PipeChina's energy consumption but was responsible for 65% of its 2020 carbon emissions.
"In the next step, we will optimise our energy consumption structure and purchase more electricity that is generated from renewable sources through market trading," Tang added.
The company is researching carbon reduction and energy efficiency improvement technologies, including use of cold energy in liquefied natural gas (LNG) terminals and natural gas recycling.
Tang added that PipeChina plans to build more natural gas pipelines and natural gas storage facilities in China from 2021 to 2025, while looking into new businesses, such as hydrogen storage and transport and carbon capture and storage.
(Reporting by Emily Chow and Muyu Xu; Editing by Clarence Fernandez) ((firstname.lastname@example.org; +86 10 56692117;))