REG-TotalEnergies SE TotalEnergies and SINOPEC Strengthen Cooperation

TotalEnergies SEAnnouncement

07/05/2024 07:15

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TotalEnergies and SINOPEC Strengthen Cooperation

 

On the occasion of the state visit to France by the President of the People's
Republic of China, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), represented
by Patrick Pouyanné, Chairman and CEO, and China Petroleum and Chemical
Corporation (“SINOPEC”), represented by Ma Yongsheng, Chairman, signed a
strategic cooperation agreement to deepen their collaboration, notably in
low-carbon energies.

TotalEnergies and SINOPEC have been working together for many years, notably
in Angola and Brazil in Upstream operations, and more generally in various
domains such as oil, LNG, oil product trading, and engineering. Recently, the
companies have joined forces to develop a 230,000 tons per year sustainable
aviation fuel (SAF) production unit at a SINOPEC refinery in China.

This strategic cooperation agreement aims to further develop the partnership
between TotalEnergies and SINOPEC and seize new opportunities by leveraging
their respective expertise. In particular, the two companies plan to combine
their R&D expertise in biofuels, green hydrogen, CCUS and decarbonization.

“We are pleased to reinforce our partnership with SINOPEC, a major Chinese
energy player which is already our partner in several countries. This
strategic cooperation agreement reflects our shared will to combine our
multi-energies expertise to address today's growing global demand, while
simultaneously building the decarbonized energy system of tomorrow,” said
Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“SINOPEC and TotalEnergies have established a strong partnership. Signing
this strategic cooperation framework agreement on TotalEnergies' 100(th)
anniversary marks another milestone. Over the years, the two companies have
carried out extensive cooperation in exploration and production, LNG,
biofuels, and trading. With this agreement, both companies intend to
strengthen the partnership by exploring more opportunities in the fields of
sustainable aviation fuel, green hydrogen, CCUS, etc., to fulfil our
commitment to low-carbon, green and sustainable growth of the industry,”
added Dr. Ma Yongsheng, Chairman of SINOPEC.

***

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
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entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
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competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

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