A new agreement between TotalEnergies and China Petroleum and Chemical Corporation (SINOPEC) will create a strengthened partnership aimed at deepening collaboration, especially in the realm of low-carbon energies.
TotalEnergies and SINOPEC have partnered in the past, for example in Angola and Brazil in Upstream operations, as well as in various domains such as oil, LNG, oil product trading, and engineering.
More recently, the companies have worked together to develop a sustainable aviation fuel (SAF) production unit with an annual capacity of 230,000 tonnes at a SINOPEC refinery in China.
The new agreement intends to further enhance the partnership between the two energy giants, leveraging their respective expertise to seize new opportunities.
The companies plan to combine their research and development capabilities in biofuels, green hydrogen, CCUS (carbon capture, utilisation, and storage), and decarbonisation efforts.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said: “We are pleased to reinforce our partnership with SINOPEC, a major Chinese energy player which is already our partner in several countries.
“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 decarbonised energy system of tomorrow.”
Dr Ma Yongsheng, Chairman of SINOPEC, added: “SINOPEC and TotalEnergies have established a strong partnership. Signing this strategic cooperation framework agreement on TotalEnergies’ 100th anniversary marks another milestone.
“Over the years, the two companies have carried out extensive cooperation in exploration and production, LNG, biofuels, and trading.
“With this agreement, both companies intend to strengthen the partnership by exploring more opportunities in the fields of sustainable aviation fuel, green hydrogen, CCUS, etc., to fulfil our commitment to low-carbon, green, and sustainable growth of the industry.”
The agreement comes at a critical time as both companies aim to contribute significantly to the global energy transition towards a more sustainable and low-carbon future.
