NEWS COMMENTARY

Sinopec announces plans to become China's largest hydrogen energy company in response to China's 14th Five-Year Plan

Published:
March 18, 2021
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One of Lux's top predictions for 2021 was that China would triple global green hydrogen capacity by 2025. While it remains to be seen where Sinopec plans to fit in China's hydrogen economy, it will start by building 1,000 hydrogen fueling stations by 2025. Lofty claims are common from China, announcing in 2019 that it would bring online 510 hydrogen fueling stations by 2020, though only 128 have been constructed so far. It is clear that China will play a leading role in the global hydrogen economy due to its substantial potential for blue hydrogen. Clients should view this as an opportunity to bring technical know-how into a fast-growing market with strong top-down support for critical technologies.

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