Global warming is the most serious environmental problem that we ever had. One of the reasons for that focus on the mass emission of greenhouse gas has made the cosmopolitan warming problem more and more serious. It is such a great threaten to our environment that the international community must take active and effective measures. In 2006, a 973 project named "Research for Utilizing Greenhouse Gas as Resource in EOR and Storaging It Underground "  was authorized by The Ministry of Science and Technology of the People's Republic of China. The researches include establishing a system suits China`s national conditions and sequestrate CO₂ effectively, obtaining society benefit from reducing CO₂ emission and obtaining economic benefit from CO₂ utilization, developing CO₂ storage theories, phase state of multiphase and multicomponent mixtures, nonlinear percolation mechanisms of multiphase and multicomponent mixtures and CO₂ capture & transport.. In China the CO2 sequestration security and the efficient use of research is at the international level. From those basic researches above, it is expected to get state owned CO₂ storage and utilization technology, which will be served as useful theory and practice basis for efficiently global resource & environment development and sustainable development.