Jiang Ning, Sinopec Marketing’s chief specialist, said the price and the fuel cost of hydrogen-powered Fuel Cell Electric Vehicles (FCEVs) would be competitive against conventional gasoline- or diesel-fueled vehicles in 2030. Jiang expects green hydrogen fuel cost would fall from CNY40-70 ($6.25-$10.95) per kilogram today to CNY30 ($4.69) by 2025 when gasoil prices are estimated to be around CNY6.7 ($1.05) per litre. Jiang said that hydrogen fuel cost is considered competitive against oil-based fuel at a price of below CNY34 ($5.32) per kg.
Hydrogen-powered FCEVs are expected to play a crucial role in China’s decarbonisation programme. However, they cost relatively higher than cats with internal combustion engines. Besides, China’s hydrogen refuelling service network is currently limited to certain areas and mostly serves public transport vehicles.
Sinopec opened a hydrogen supply centre in Shanghai in September, offering hydrogen at around CNY40 ($6.25) per kg. The company said the price is nearly equivalent to using gasoline covering a distance of 100 km at a crude oil price of about $65 per barrel. The company operates 31 hydrogen refuelling stations by the end of September and plans to launch another 1,000 stations by 2025.
