Sinopec expands new natural gas agreement

China Petroleum and Chemical Corp (Sinopec) signed a long-term liquefied natural gas (LNG) supply framework agreement with TotalEnergies on Monday, this agreement will supply approximately 2 million metric tons of LNG per year to Sinopec for 15 years starting in 2028.

The agreement marks a key step in advancing the strategic cooperation framework the two companies signed in May, highlighting their joint commitment to exploring opportunities across the full energy value chain to support the global energy transition.

Sinopec sees TotalEnergies as a crucial partner in the company's natural gas strategy, this agreement will further strengthen their strategic cooperation in the gas sector, said Niu Shuanwen, vice president of Sinopec.

Stéphane Michel, president of gas, renewables, and power at TotalEnergies, noted that China is the world's largest LNG importer while TotalEnergies is pleased to become one of Sinopec's LNG suppliers under this agreement.

This partnership underscores the competitiveness of TotalEnergies' LNG business, and we will continue to strengthen our presence in Asia's LNG long-term contract market to meet the region's growing energy demand, said Michel.

zhengxin@chinadaily.com.cn