China Gas Enters into Strategic Cooperation Agreement with Dongfeng Motor

Source: www.gulfoilandgas.com 11/28/2021, Location: Asia

China Gas Holdings Limited (“China Gas”), a leading natural gas operator in China, announced that it has entered into a strategic cooperation agreement (“Agreement”) with Dongfeng Motor Corporation (‘‘Dongfeng Motor’’) to create a “Zero-Carbon Motor City”, and cooperate on projects such as the dual-carbon digital management platform and innovation of carbon credit policy in the auto industry. The agreement is a win-win cooperation of two industry leaders to jointly explore the trillion-dollar markets of dual-carbon and new energy utilization, which will help propel the market development and strategic implementation of China Gas in the field of new energy.

Decarbonizing the auto industry and driving emission reductions have been a major focus of global auto players in recent years, while China has also been pushing ahead its national policy of “Carbon Peak, Carbon Neutrality” for sustainable growth. Through the cooperation, both China Gas and Dongfeng Motor will fully utilize the resource and technical advantages of both parties in their respective fields to lead the zero-carbon development of the auto industry. China Gas will build a dual-carbon footprint platform for Dongfeng Motor and each of its motor industry cluster bases which provides carbon footprint calculation, carbon verification and emission reduction services for Dongfeng Motor’s industrial chain partners. In addition, a “Zero-Carbon Motor City” will be built in Shiyan City as the first cooperation demonstration project which will actively utilize green hydropower and invest in new energy projects such as photovoltaic, wind power, and source-grid-load-storage integration. The project will effectively coordinate hydropower resources, build an intelligent incremental power distribution network, and empower the construction of the zero-carbon motor industrial park.

For the formulation of carbon neutrality strategies, both parties will cooperate to explore the construction of renewable energy projects, where China Gas will assist Dongfeng Motor in implementing carbon neutrality plans. In addition, in respect of the future green transportation system, both parties will jointly discuss the creation of a zero-carbon operation test scenario for automobiles, and conduct research on cutting-edge technologies and solutions for reserves; jointly carry out research on the ecological operation mode of green travel, promote the zero-carbon operation system of green transportation, and support the zero-carbon operation of automobiles to help the industry achieve the “Dual-Carbon” goals.

China Gas has been committed to exploring dual-carbon business and promoting the Group's digital transformation and new energy business. The Group has recently signed a strategic cooperation agreement with Shanghai Environment and Energy Exchange Corporation to build a carbon emissions database for the gas industry chain based on blockchain technology, carry out carbon footprint verification business, and set up carbon management systems for governments and enterprises. The cooperation with Dongfeng Motor will further propel the Group’s rapid development into new energy and “dual-carbon” businesses.


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