SNPMF - China stepping over Canada in the energy transition with world's largest green hydrogen project

Sinopec (OTCPK:SNPMF) announced today plans for the world's largest green hydrogen plant, with capacity for 20k tons annually With completion planned for mid-2023, the project will draw on solar and wind power to generate green hydrogen All components, from solar and wind capture, to transmission and the electrolyzer will be manufactured in China The world's largest green hydrogen plant was inaugurated in Canada earlier this year by Air Products (NYSE:APD), and is set to produce 3k tons annually According to the US Department of Energy Hydrogen Program, one gallon of hydrogen contains the same energy content as 1/20th of a gallon of diesel fuel With China consuming ~4mb/d of diesel daily, or around 200m tons per year, this record-setting, 20k ton per year hydrogen project is unlikely to alter China's appetite for oil anytime soon

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China stepping over Canada in the energy transition with world's largest green hydrogen project