November 6th (AMSP/CGTN) – – The CIIE not only emphasizes the trade of commodities and technologies but also acts as a crucial platform for fostering cooperation. Chinese state-owned enterprises play a significant role in this endeavor.
Energy remains a top priority at the China International Import Expo. As one of the largest energy markets in the world, China plays a vital role in global energy transition. This week in Shanghai, major international energy companies are convening at the 7th CIIE to establish partnerships with Chinese enterprises.
At one of the conference venues for the 7th CIIE, a signing ceremony titled “Building Global Energy Partnership” is currently taking place. During this event, China’s Sinopec Group is finalizing contracts valued at over $40 billion with 38 partners from 18 countries and regions worldwide.
One of the significant agreements is the long-term cooperation framework for LNG supply between Sinopec and TotalEnergies. Under this contract, TotalEnergies will provide approximately 2 million tons of LNG annually to Sinopec over a 15-year period starting in 2028.
” As you know, Sinopec (China Petroleum and Chemical Corporation) is one of the largest LNG (Liquefied Natural Gas) importers in China, and we are number three in the world, ” disclosed Stephane Michel, President of TotalEnergies (Board Member), adding that the contract concluded bwetween TotalEnergies and Sinopec aims to meet the faster and green demand of the gas market in China.
Zhao Dong, Board Director & President of China Sinopec Group, stressed that China is the world’s largest importer of liquefied natural gas, and TotalEnergies is a key partner of Sinopec. ” We utilize the CIIE as a platform to collaboratively develop a green energy supply chain and enhance our international competitiveness. The signing of this agreement will further solidify the strategic partnership between the two companies in the natural gas sector, improving supply assurance capacity, establishing a new energy system, and contributing positively to global energy governance and efforts to combat climate change, ” he pointed out.
Since the inaugural CIIE in 2018, Sinopec has signed contracts totaling over $285 billion across the seven sessions of the Expo. Last year, the group secured an LNG contract with Qatar Energy during the 6th CIIE, highlighting the significant potential of state-owned enterprises to expand their foreign collaborations
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