TotalEnergies and SINOPEC sign strategic partnership to strengthen low-carbon synergies

China Petroleum and Chemical Corporation (SINOPEC) signed a strategic cooperation agreement with TotalEnergies on Tuesday during the Chinese President’s state visit to France, to further deepen their collaboration, notably in low-carbon energies.

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 joined forces to develop a 230,000 tons per year sustainable aviation fuel (SAF) production unit at a SINOPEC refinery in China.

This strategic cooperation agreement aims to further develop the partnership between TotalEnergies and SINOPEC and seize new opportunities by leveraging their respective expertise, the French company said in a statement.

The two companies also plan to combine their R&D expertise in biofuels, green hydrogen, CCUS and decarbonisation.

“We are pleased to reinforce our partnership with SINOPEC, a major Chinese energy player which is already our partner in several countries,” Patrick Pouyanné, Chairman and CEO of TotalEnergies, said.

 Strategic cooperation

 The partnership reflects the shared will to combine the two companies’ multi-energies expertise to address today's growing global demand, while simultaneously building the decarbonized energy system of tomorrow, the statement highlighted.

“SINOPEC and TotalEnergies have established a strong partnership. Signing this strategic cooperation framework agreement on TotalEnergies' 100th anniversary marks another milestone,” Dr. Ma Yongsheng, Chairman of SINOPEC, added.

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 and CCUS, to fulfil the commitment to low-carbon, green and sustainable growth of the industry.