Chinese state-owned energy companies signed billion-dollar purchase agreements with international partners during the ninth session of the China International Import Expo, which concludes its work today in Beijing. The agreements covered areas such as energy, advanced equipment, and green and low-carbon technologies, in a move reflecting the enhancement of international economic cooperation.
Xinhua News Agency clarified that Sinopec signed purchase agreements with a total value of $41.3 billion with 37 partners from 18 countries and regions. These agreements included 29 types of products, including artificial intelligence, advanced equipment, and digital supply chains.
For his part, China National Petroleum Corporation (CNPC) signed 38 purchase agreements with 35 partners worldwide, including Saudi Aramco, with a value exceeding $18.8 billion. These contracts include oil and gas resources, new materials, advanced equipment, and green and low-carbon technologies.
In the same context, China National Offshore Oil Corporation (CNOOC) set a new record for the value of agreements signed during the expo. It signed purchase contracts and cooperation agreements with 20 suppliers from around the world totaling $13.6 billion. The purchases included crude oil, natural gas, deep-water oil and gas exploration equipment, and advanced technical services.
It was noted that advanced energy equipment and green and low-carbon technologies have become key areas for international purchases by Chinese energy companies. In this regard, PowerChina signed agreements worth $677 million with global companies including Hitachi Energy, Caterpillar, Siemens Energy, and GE Vernova. The purchases included advanced equipment, smart grids, and new energy storage systems, recording the highest value of agreements in the history of the company's participation in the expo.
For his part, Huo Chijun, chairman of the board of directors of Sinopec, called for enhancing cooperation in the development of oil and gas resources, liquefied natural gas trade, pipeline networks, and energy storage. He emphasized that this cooperation contributes to maintaining the stability of the global energy market, along with deepening cooperation in carbon trade, green finance, and investment in sustainable energy.
It is worth noting that since the launch of the first session of the expo in 2018, the cumulative value of agreements signed by Sinopec, CNPC, and CNOOC during their successive sessions reached $366 billion, $163.6 billion, and more than $100 billion, respectively.
Source: Syrian Arab News Agency (SANA)
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