Green has become the bright background of PetroChina's participation in the "Belt and Road"

Recently, the third "Belt and Road" energy cooperation roundtable hosted by PetroChina was held in Beijing. As the pioneer and main force of the "Belt and Road" construction, PetroChina has integrated green and low-carbon strategies into the "Belt and Road" construction. Today, green has become a bright background for its participation in the construction of the "Belt and Road".

Building a Mutually Beneficial Green "New Silk Road"

Since 2019, the output of oil and gas rights and interests from the "Belt and Road" countries has remained above 80 million tons for four consecutive years, accounting for 83% of China's overseas oil and gas rights and interests production. PetroChina has formed a large-scale market with a contract value of more than US$6 billion in more than 20 countries, including the United Arab Emirates, Iraq and Saudi Arabia, with an average annual new contract amount of US$6 billion. In the oil and gas trade with more than 50 countries under the "Belt and Road", PetroChina trades more than 400 million tons per year, forming an import capacity of 100 million tons of crude oil and 120 billion cubic meters of natural gas.

PetroChina has formed a complete industrial chain integrating exploration and development, pipeline operation, refining and chemical industry, engineering services and other businesses in the "Belt and Road" countries, building a mutually beneficial green "new Silk Road". In the joint construction of the "Belt and Road" project, PetroChina not only invested a lot of money, but also brought China's advanced technology to help the national petroleum industry and economic and social development by leaps and bounds, which was unanimously praised by the local government and people.

As the only Chinese enterprise in the Oil and Gas Industry Climate Initiative (OGCI), PetroChina actively participates in the oil and gas industry's action to address climate change and actively promotes carbon emission reduction in the world's transportation industry.

Oil and gas development and environmental protection first

In jointly building the "Belt and Road" oil and gas projects, PetroChina has always adhered to the principle of "development in protection, protection in development, and environmental protection first". In terms of energy cooperation projects, PetroChina has made every effort to bring the latest innovative technology and upgrade equipment, and strive to build green well fields and refineries in the "Belt and Road" countries, so as to achieve "no gas to the sky, no oil to the ground, no water to discharge, and no noise to disturb the people".

The Ahdaib oilfield in central Iraq is the first foreign oil cooperation project in Iraq's post-war reconstruction and the first oilfield development project of PetroChina entering Iraq. In the process of oilfield construction, PetroChina takes "compliance, compliance, environmental friendliness and sustainable development" as the core concept of oilfield green development, minimizing the environmental impact of oilfield development, production and operation.

When developing the Buzios Project and the Ribera Project, the world's largest deepwater oilfield, PetroChina determined the injection and production mode of "carbon control" and "low-carbon" development from the beginning of development. In view of the characteristics of high CO2 content in the gas produced by the two major production projects, each deep-sea floating production storage and offloading vessel (FPSO) is designed with output gas treatment and carbon dioxide injection modules, which effectively use the associated high CO2 output gas to reinject and flood oil, and maximize low-carbon production.

Contribute to global carbon reduction

In the process of jointly building the "Belt and Road" initiative, CNPC not only pays attention to the sustainable development of traditional oil and gas business, but also pays more attention to the cultivation of new energy, vigorously develops natural gas, actively deploys geothermal energy, carbon capture utilization and storage (CCUS), solar and wind energy and other businesses, promotes international energy cooperation "going green", and helps host countries achieve emission reduction targets.

Turkmenistan's Amu Darya gas project has an annual production capacity of 14 billion cubic meters, injecting strong impetus into the country's economic and social development. PetroChina and its partners have built the Yamal Liquefied Natural Gas (LNG) project in the Arctic, an important fulcrum of the "Ice Silk Road". In Africa, some stations of the Niger-Benin crude oil export pipeline invested and constructed by PetroChina adopt the "photovoltaic + energy storage + diesel generator" system power supply scheme, with a total installed capacity of 9.28 MW.

In terms of carbon market, PetroChina is also actively participating in and promoting the development of green trade. The Shymkent refinery in Kazakhstan completed its first carbon emissions trading, becoming the first company in the country to do so. In recent years, PetroChina International has been deeply involved in the European biofuel market and European carbon emissions trading, and signed a voluntary carbon emission reduction (VER) trading agreement with BP to accelerate the green and low-carbon transformation of international trade business.