Website review: Coal producer to make liquid fuel ...
laodan discovered this in Energy Industry
•1 reviews since Sep 17, 2007
energy-industry
•chinadaily.com.cn/bizchina/2007-09/17/content...
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laodan discovered 10 months ago- China coal producer to make liquid fuel in 2008 in China Daily from Xinhua
China's largest coal company Shenhua Group will produce China's first barrel of liquid fuel from coal in 2008 using self-owned technology known as direct coal liquefaction. ... the first production line would use 3.45 million tons of coal every year to make 1.08 million tons of liquid products. With a budget of 12.3 billion yuan and an annual production capacity of 5 million tons of oil, the project will be completed in two stages. In the first phase, three production lines will be installed. Experts estimated that by 2020, coupled with an annual capacity of 20 million tons of bio-oil, China's coal industry would be able to produce 50 million tons of oil products every year to help reduce the nation's oil import rate from current 60 percent to 45 percent. China coal producer to make liquid fuel in 2008 So China is preparing for peak oil. Ok but what do they speak about exactly? This article refers to the Erdos project financed by the Shenhua Group. Total capacity: 5,000,000 tons a year. But many other companies are planning to follow suit. Knowing that a barrel a day is roughly 50 tonnes a year the Erdos project of 5,000,000 ton/year corresponds to 100,000 barrels/day for an investment of some 1.6 billion USD. China presently consumes some 6,500,000 barrels a day but when the Erdos project shall be fully operational the country shall consume around 8,000,000 barrels a day. So the Erdos project corresponds to a coal conversion satisfying 1.25% of the total Chinese oil consumption. If those calculations are right and if everything goes according to plan replacing the total oil consumption with coal conversion would cost some 128 billion USD. China today has more than ten times this amount in foreign reserves!!!! Am I missing something here?
- China coal producer to make liquid fuel in 2008 in China Daily from Xinhua
