dpa
Paris
French oil giant TotalEnergies SE and Chinese conglomerate China Petroleum and Chemical Corporation, or Sinopec, on Tuesday said they have signed a strategic cooperation agreement to deepen their collaboration, notably in low-carbon energies.
Under the deal, the two companies plan to combine their research and development expertise in biofuels and green hydrogen as well as carbon capture, utilization and storage (CCUS) and decarbonization.
The two companies have been working together for many years, mainly in Angola and Brazil in upstream operations, and more generally in various domains of oil, liquefied natural gas (LNG), oil product trading and engineering.
TotalEnergies and Sinopec recently joined forces to develop a 230,000-ton per year sustainable aviation fuel production unit at a Sinopec refinery in China.
Patrick Pouyanne, chairman and chief executive 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 decarbonized energy system of tomorrow,” he added.
