TotalEnergies, Sinopec to accelerate low-carbon energy solutions
SUMMARY
The agreement signed between the parties aims to further develop the partnership in biofuels, green hydrogen, CCUS and decarbonisation.
By Shardul SharmaTotalEnergies, a global energy company, and Sinopec, the Chinese state-owned energy giant, have inked a cooperation agreement aimed at deepening their collaboration in the pursuit of low-carbon energy initiatives, the French firm said on May 7.
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 companies have joined forces to develop a 230,000 tonnes/year sustainable aviation fuel production unit at a Sinopec refinery in China.
This strategic cooperation agreement aims to further develop the partnership between TotalEnergies and Sinopec, particularly in biofuels, green hydrogen, CCUS and decarbonisation.
Commenting on the agreement, Patrick Pouyanne, CEO of TotalEnergies, stated, “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.”
“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,” added Ma Yongsheng, chairman of Sinopec.
