In the context of a new climate change summit in Beijing, the U.S. and China have signed eight partnership pacts to promote the exchange of research and technology for greenhouse gas-cutting initiatives, the International Business Times reported.
“In one of the agreements, China’s Huaneng Clean Energy Research Institute, a subsidiary of the state-owned utility China Huaneng Group (ticker: HNGZ:CH), agreed to share information with Washington-based Summit Power Group about a pilot project it’s developing in Tainjin to turn coal into a synthetic gas. The technology, called integrated gasification combined cycle, gasifies coal and strips it of carbon dioxide and air pollutants like sulfur dioxide. The gas is then combusted to fire up power plants, while the harmful gases are compressed and stored. Summit Power, in turn, will share information and technology about its own project in Texas for using captured carbon to force oil out of hard-to-tap wells,” the report said.
Also, the University of Kentucky and Shanxi Coal International Energy Group Co. (ticker: 600546:CH) and Pennsylvania-based Air Products and Chemicals Inc. (ticker: APD) will produce a feasibility study for a 350-megawatt coal-fired power plant that can capture 2 million metric tons of carbon dioxide per year, Reuters reported.
Natural gas plays an integral role in China’s energy initiatives. The country signed a 30-year, $400 billion agreement in May to buy the resource from Russia. The United States government is trying to reduce carbon dioxide emissions by enforcing strict new regulations imposed by the Environmental Protection Agency – rules that many existing coal plants won’t be able to meet.
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