TotalEnergies, a French energy major, said it will further strengthen cooperation with China Petroleum and Chemical Corp (Sinopec), in the fields of oil, liquefied natural gas, oil product trading and engineering, as both China and France are actively seeking ways to enhance energy security amid green transition.
A Sinopec employee operates equipment at an LNG facility in Chongqing in September. [Photo/Xinhua]
The two companies signed a strategic cooperation agreement to deepen collaboration, notably in low-carbon energies, during the state visit by the Chinese President to France this week.
"We are pleased to reinforce our partnership with Sinopec, a major Chinese energy player which is already our partner in several countries," said Patrick Pouyanne, chairman and CEO of TotalEnergies.
"This strategic cooperation agreement reflects our shared will to combine our multi-energies expertise to address today's growing global demand, while simultaneously building the decarbonized energy system of tomorrow."
TotalEnergies and Sinopec have been working together for many years, notably in Angola and Brazil in upstream operations, and more generally in various domains such as oil, LNG, oil product trading and engineering.
Recently, the two companies have joined forces to develop a sustainable aviation fuel (SAF) production unit with an annual capacity of 230,000 metric tons at a Sinopec refinery in China. The planned unit will produce SAF and process local waste or residues from the circular economy, including cooking oils and animal fats.
This strategic cooperation agreement aims to further develop the partnership between the two companies and seize new opportunities by leveraging their respective expertise, it said.
Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute, said China and France have carried out extensive cooperation in exploration and production, LNG, biofuels and trading in recent years, while strengthening their partnership by exploring more opportunities in the fields of sustainable aviation fuel, green hydrogen and CCUS (carbon capture, utilization and storage).
The burgeoning expansion of multinational energy firms in China, especially in the renewable energy sector, will further consolidate their position in the industry, said Luo.
Yu Yongjian, chairman of TotalEnergies China, said the French company's cooperation with Chinese partners has been continuously deepening as China intensifies its exploration in the field of energy transition, expanding from the local market to the global market, and extending from traditional industries to cover new energy fields.
China's carbon neutrality plan is significant for building a green future, and will lay a solid foundation for the success of multinational energy companies in the country, he said.
China has begun to turn policies into actions, formulating dynamic and pragmatic road maps, and Total Energies is committed to deepening its partnerships with Chinese companies to achieve the common goal of net-zero emissions, Yu said. (By Zheng Xin)
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China Mining Conference and Exhibition (CHINA MINING) is officially supported by Ministry of Natural Resources China. Since first held in 1999, CHINA MINING has become one of the world’s top mining events and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including survey and evaluation, exploration and mining, techniques and equipment, investment and finance, trade and services, etc., playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
With the theme of "Innovation Promotes High-Quality Development of Mining", The 25th China Mining Conference and Exhibition (CHINA MINING 2023) was held at Tianjin Meijiang Convention Center of Tianjin China on October 26-28, 2023. This session was held in a combination of “offline oriented, online assisted”, restored the offline entities to hold conference and exhibition. At the same time, relying on the "Cloud Platform for China Mining Conference and Exhibition ", it provided the industry and the society with 24-hour uninterrupted information services and realized the "never ending" of the event. CHINA MINING 2023 consisted of the opening ceremony, keynote session, summit forums, thematic forums, "offline + online" exhibition, VIP tours, ministerial bilateral talks, BOCI night, welcome party, networking dinner, mining interviews (online), etc.. For more information about CHINA MINING 2023, please visit: www.chinaminingtj.org/en/.
