On May 7th, China Petroleum & Chemical Corporation (Sinopec) and TotalEnergies signed a strategic cooperation framework agreement in Paris, France. According to the agreement, the two companies will leverage their resources, technologies, talents, and other strengths to explore cooperation opportunities across the entire industry chain, including oil and gas exploration and development, natural gas and liquefied natural gas (LNG), refining and petrochemicals, engineering, trade, and new energy. The agreement was signed by Ma Yongsheng, Chairman of Sinopec, and Patrick Pouyanné, Chairman and CEO of TotalEnergies.
Ma Yongsheng stated that Sinopec and TotalEnergies are important partners, and this agreement, signed on the occasion of TotalEnergies' 100th anniversary, marks a milestone in their collaboration. Both parties will use this cooperation as an opportunity to deepen and expand their partnership, exploring cooperation opportunities in sustainable aviation fuels, green hydrogen, CCUS, and other low-carbon energy fields to contribute positively to the industry's green, low-carbon, and sustainable development.
Patrick Pouyanné expressed his pleasure in deepening the collaboration with Sinopec, highlighting existing joint projects in multiple countries. The signing of this strategic cooperation agreement reflects both parties' shared commitment to further enhancing cooperation in various energy sectors to meet the growing global energy demand and explore the development of future decarbonized energy systems.
Energy cooperation is a key focus area in the partnership between China and France. Over the past 60 years of diplomatic relations, both countries have leveraged their comparative advantages in the energy sector to achieve fruitful outcomes. For instance, on the occasion of the 55th anniversary of China-France diplomatic relations in 2019, Sinopec and Air Liquide of France signed a memorandum of cooperation to strengthen collaboration in the hydrogen energy field, ushering in a new chapter of clean energy cooperation between the two countries. In March of this year, Sinopec announced a joint venture with TotalEnergies to produce sustainable aviation fuels, supporting the international aviation industry's green energy transformation and promoting low-carbon development.
Sinopec is an integrated energy and chemical company operating in the upstream, midstream, and downstream sectors, listed domestically and internationally. Its parent company, China Petrochemical Corporation, is the world's largest refining company and the second-largest chemical company. TotalEnergies is a global integrated energy company primarily engaged in the production and sale of oil, biofuels, natural gas, renewable energy, and more.
