Exxon, PipeChina Cooperating On O&G, Low Carbon Solutions
US energy supermajor ExxonMobil has signed a strategic cooperation framework agreement with China Oil and Gas Pipeline Network Corporation (PipeChina) to work on several business opportunities.
According to the agreement, the companies will enhance existing cooperation in the Chinese downstream oil and gas market and seek to develop low-carbon solutions.
“ExxonMobil’s global scale, integration and functional excellence coupled with PipeChina’s open and forward-looking infrastructure planning will help China meet its fast-growing energy demand and goals for carbon neutrality by 2060,” Koh Tze San, President of ExxonMobil China gas marketing, said.
Li Tian, General Manager of the Marketing Department of PipeChina, added that the strategic deal has laid a solid foundation for the follow-up cooperation between the two parties.
“PipeChina will continue to adhere to the principle of ‘openness, transparency and win-win cooperation’, explore internationalization and new business, promote the coordinated development of the oil and gas industry chain, inject new green and low-carbon momentum, and ensure the security of national energy supply”, he added.
It is worth noting that, in order to meet its growing energy demands, China signed the longest gas supply agreement in the history of the LNG industry with Qatar.
On 21 November, QatarEnergy and Sinopec entered into a 27-year sale and purchase agreement for the supply of 4 million tons per annum of liquefied natural gas to China.
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