Sinopec Unveils Global Energy Outlook and China Energy Development Report
Key Ideas
  • Sinopec's global energy outlook predicts renewable energy dominance by 2060, with 51.8% of total consumption.
  • Oil and gas will continue to play a significant role, comprising 35.7% of energy consumption by 2060.
  • Hydrogen consumption is projected to surpass 340 million tonnes by 2060, transforming the energy sector.
  • The 2025 China Energy & Chemical Industry Development Report forecasts non-fossil energy to account for a majority of power generation by 2035.
China Petroleum & Chemical Corporation (Sinopec) has released its first global energy outlook and the 2025 China Energy & Chemical Industry Development Report. The global energy outlook predicts a peak in total primary energy consumption by 2045, with renewable energy dominating the energy mix by 2060. Oil and gas will still have a significant share in energy consumption, especially in transportation. The report emphasizes the growth of non-fossil energy technologies like hydrogen, Carbon Capture, Utilization, and Storage (CCUS), and advanced energy storage. Hydrogen is highlighted as a key player, expected to hold nearly 50% of total consumption by 2060. The China Energy Development Report foresees China's energy landscape evolving towards non-fossil energy, with a majority of power generation coming from clean alternatives like electricity, hydrogen, and ammonia by 2035. Both reports aim to provide insights into shaping the energy transition and understanding the future energy trends globally and in China.
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