CECEP Industrial Energy Conservation Co Ltd, a subsidiary of the China Energy Conservation and Environmental Protection Group, signed an agreement on Nov 13 with the China National Petroleum Corp subsidiary company in charge of the West-East oil and natural-gas pipeline project to increase the energy efficiency of CNPC's oil and gas pipelines.
On the same day, GE Oil & Gas, an international technology equipment and services provider and a unit of General Electric Co, signed a memorandum of understanding with CECEP Industrial Energy Conservation Co to cooperate in the industrial waste-heat recycling and power-generation businesses.
"China's rising standards on environmental protection have brought business opportunities to the industrial waste-heat recycling for power generation industry, and high energy-consuming industries such as oil and gas will be the key target markets," said Liu Bo, general manager of GE Oil & Gas in Greater China.
At the same time, the economic benefits of such projects are being increasingly recognized, which has created a bigger market in the field, he said.
Wang Xiaokang, president of the China Energy Conservation and Environmental Protection Group, said the company will officially step into the energy-saving business in the oil and gas fields starting with the cooperation with CNPC and GE to use the waste heat produced from the West-East oil and gas pipeline.
GE's Oregen technology, which combines advanced technology and China's local situation in the energy-saving market, will be applied in the future cooperative projects, according to GE Oil & Gas Group.
According to China's 12th Five-Year-Plan on industrial energy-saving, the country will realize a total new installed power generation capacity of 20 million kilowatts produced from waste heat.
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