Qinghua Energy and China Energy signed a letter of intent for strategic investment and EPC cooperation on the Phase II coal-to-gas project
Thread Content
Qinghua Energy and China Energy sign intent agreement for strategic investment and EPC cooperation on Phase II of the coal-to-gas project Author/Source: Date: 2016-10-24 Clicks: 8 On October 20, China Qinghua Energy Group Co., Ltd. (hereinafter referred to as China Qinghua) and China Energy Engineering Group Co., Ltd. (hereinafter referred to as China Energy) officially signed an intent agreement for strategic investment and EPC cooperation on Phase II of the Qinghua coal-to-gas project in Xinjiang in Beijing. Huo Qinghua, Chairman of China Qinghua; Xu Zhong and Liu Zirong, Vice Presidents; Yang Lei, Chief Accountant; Li Chuanrui, Deputy Secretary of the Party Working Committee; Meng Lingjiang, General Manager of the Xinjiang Company; Zhu Xiangping, Director and Chief Financial Officer; Liu Bin, Chairman of China Energy; Zhu Haixing, CEO; Bao Mengfang, Vice President; as well as Rao Guoping, President of the Xinjiang Branch of the China Development Bank, and Bai Hailong, President of the Yili Branch, among other guests from financial institutions, attended this signing ceremony. China Energy is a comprehensive energy service provider under SINOMACH Group, integrating energy investment and operation, energy project construction, energy technology research and development, as well as energy finance and trading services. In the five key industry sectors of electricity, petrochemicals, new energy, environmental protection, and infrastructure engineering, it offers comprehensive engineering solutions that cover planning and consulting, engineering design, project contracting, as well as operation and management. It also possesses capabilities for providing various services such as equity investment, PPP project investment, capital cooperation, entrusted operation, and financial leasing. Huo Qinghua, chairman of China Qinghua, said that China Qinghua warmly welcomes the participation of China Energy, hoping that both parties will leverage their respective strengths to ensure the successful progress of collaborative efforts and ultimately maximize the investment value. Liu Bin, chairman of China Energy, expressed his gratitude for the trust placed in him by China Qinghua. Strategic investment and EPC cooperation form the basis of their partnership; he hopes that both parties will leverage their respective strengths to accelerate the construction of the second phase of the coal-to-gas project in Xinjiang Qinghua. It is believed that through the joint efforts of both sides, their cooperation will surely be successful and lay a solid foundation for future collaborations. Rao Guoping, president of the Xinjiang Branch of the China Development Bank, said it was an honor to be invited to attend the signing ceremony. On behalf of the Xinjiang Branch of the China Development Bank, he expressed high praise for the cooperation between the two parties and extended warm congratulations on the signing. Coal-to-gas production is part of an **energy strategy that aligns with** the direction of energy development. It is hoped that both parties can complement each other’s strengths and work together to explore new opportunities in the field of clean energy as well as in coal chemical industries in the future. The Xinjiang Branch of the China Development Bank will continue to provide strong support for the second phase of the Qinghua Coal-to-Gas project in Xinjiang, and it is believed that the cooperation between the two parties will be successful. In the future, China Qinghua will work together with its shareholders to increase investment and efforts in research and development in the field of clean energy. Adhering to the development philosophy of \"green, safe, and efficient,\" it will establish a complete industrial chain for clean energy, aiming to become a leader in this sector in China!
It seems that Phase 2 is on the verge of moving forward – congratulations!
That’s a bit exaggerated! It’s far indeed, but Ili is a great place! Hehe
According to Sinochem New Network, Xinjiang Qinghua Energy Group has recently produced high-quality liquefied natural gas (LNG), which indicates that Ili in Xinjiang now has the capability to produce LNG locally. It is understood that since the first phase of Qinghua Group’s coal-to-natural gas project, with a capacity of 5.5 billion cubic meters per year, began operating stably last November, the group has mobilized specialized teams to carry out the installation, commissioning, and joint testing of the LNG facility, thereby producing LNG products and further extending the industrial chain for coal-to-natural gas production. Tests have shown that the LNG products manufactured meet or exceed **standards** in all aspects. LNG is a clean energy source that is energy-saving, environmentally friendly, safe, and efficient; it can be widely used in areas such as transportation, residential heating, and industrial power generation. As China accelerates the development of its low-carbon economy and strengthens efforts to protect the ecological environment, the market demand for LNG in the Ili region is continuing to grow. The completion of this project will increase supply in the LNG market. It should be noted here that coal-to-natural gas is used for. . . Residential heating, industrial power generation. . . It’s wrong. Using coal in this way represents a technological regression; it is not only less efficient but also causes more pollution. At the China Conference on Clean and Efficient Utilization of Coal on the 27th of this month, industry experts raised doubts about the use of coal-to-natural gas technology.
Is it not profitable to send it directly to the pipeline network? What is the economic viability of producing LNG in the Ili region? It’s not very optimistic
This post was last edited by lflsedin on 2016-11-2 at 21:48. Using coal to produce natural gas, which is then used for power generation, is certainly an unreasonable way of utilizing energy. However, once coal-based gas is fed into the pipeline network, the production plant loses control over it, and inevitably some of it is used for gas-powered power generation. The access to pipeline networks still needs to be liberalized; not only in the natural gas and energy sectors, but there is still a long way to go. Originally, competition was already fierce only in the coal sector. With this supply-side reform, small factories closed down, forcing large companies to make profits instead. Top management really knows how to do things.