In today’s talking points: Sinopec sells 50% stake in pipeline, prepares for new investment; Australia sees the opening of a new biofuels laboratory; China takes the lead in electric vehicles with New Energy Vehicles; Apple signs a deal with wind turbine maker, Xinjiang Goldwind.
Sinopec sells 50% stake in pipeline, prepares for new investment
China Petroleum & Chemical Corp is selling a 50% stake in a pipeline unit as it seeks funding to expand its already existing natural gas business. The sale, which is sold to investors such as China Life Insurance Co adds up to RMB 22.8 billion (US 3.3 billion). China’s gas demand, according to the Natural Energy Administration, may rise to as high as 350 billion cubic metres by 2020, up from 193.2 billion last year. Lower oil prices have caused Sinopec and the Country’s biggest producer PetroChina Co to sell off their assets to raise capital for other projects. Sinopec started operating its gas pipeline, which links eastern China to the Pugang gas field in Sichuan province.
Read more at: Gulf Times
Australia sees the opening of a new biofuels laboratory
Gladstone has become the home of a new biocrude and biofuels laboratory, at the site of the Norther Oil advanced biofuels pilot plant. The laboratory was built with funding support from the Australian Renewable Energy Agency (ARENA). ARENA provided $2.37 million to assist in development and construction of the $5.3 million state of the art laboratory. Before the laboratory was build, Australian biofuel developers have had to resort to sending their products overseas for testing – a necessity which has cost them time and money. The laboratory aims to have produced one million litres of furl for use in field trials within the next three years.
Read more at: Biofuels News
China takes the lead in electric vehicles with New Energy Vehicles
China is overtaking countries in New Energy Vehicles (NEV) pure electric and plug in hybrid electric vehicles. These NEV’s are expected to make up 40% of sales in 2030 which is approximately 15 million units in addition to Autonomous vehicles (driver assisted cars) to account 50% of sales by 2020. China will be a leader in reducing emissions from 5lt/100km in 2020 to 3.2lt/100km. These are the key points from a draft released by the Ministry of Industry and Information and Technology (MIIT).
Read more at: Forbes
Apple signs a deal with wind turbine maker, Xinjiang Goldwind.
Apple has invested in China’s biggest wind- power company, Xinjiang Goldwind. This investment signifies Apple’s entrance into wind power and will be their largest renewable energy project. This initiative is to contribute the reduction of environmental impact. Apple has bought a 30% share in four of the subsidies; Henan, Shandong, Shanxi and Yunnan. This is in line with Apple’s CEO Tim Cook’s vision to have the company’s supply chain in China to be 100% run by renewable energy. Apple along with other tech companies like Facebook and Google hope to set new standards for the manufacturing industry.
Read more at: Boss Magazine