CNPC sees natural gas as key pillar of future energy system
The energy cooperation between China and Turkmenistan is based on strong friendship and has fruitful results, as well as a focus on deepening ties, using new, clean energy, said Huang Yongzhang, vice president of the China National Petroleum Corporation (CNPC), executive director and president of PetroChina.
CNPC sees natural gas as a key pillar of the future energy system and an important starting point for building a low-carbon economy. China's domestic demand for natural gas is expected to remain strong and exceed 450 billion cubic meters by 2025, he said.
Turkmenistan is a reliable long-term gas partner of China. To date, CNPC has purchased more than 300 billion cubic meters of natural gas from Turkmenistan. In addition, CNPC and its Turkmen partners are constantly deepening cooperation in the field of innovative technologies and training of personnel in the oil and gas industry.
– Adhering to the principle of mutual benefit, we will share the opportunities of the large Chinese market with Turkmenistan, continue cooperation in the development of gas fields, actively explore the possibilities of using new energy sources and expand trade, – said Huang Yongzhang.
According to him, CNPC has begun to form a new model for the coordinated development of "oil, gas, heat, electricity and hydrogen." The company aims to achieve a carbon peak by around 2025, and by 2035 a dominance of green energy with zero emissions over its own consumption of fossil energy, and by around 2050 it will achieve "nearly zero" emissions.
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