Sinopec and TotalEnergies Ink Agreement for Sustainable Aviation Fuel Production
BEIJING, April 3, 2024 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG:0386, "Sinopec") has inked a landmark heads of agreement (HoA) with TotalEnergies in Beijing, embarking on a joint venture to produce sustainable aviation fuel (SAF) from waste oils at one of Sinopec's refineries.
- BEIJING, April 3, 2024 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG:0386, "Sinopec") has inked a landmark heads of agreement (HoA) with TotalEnergies in Beijing, embarking on a joint venture to produce sustainable aviation fuel (SAF) from waste oils at one of Sinopec's refineries.
- The partnership aims to achieve an annual production capacity of 230,000 tons, with the new production line co-operated by both entities.
- Patrick Pouyanné, Chairman and CEO of TotalEnergies expressed enthusiasm about partnering with Sinopec - a major player in the global refining industry - to manufacture SAF in China and establish a sustainable aviation fuel value chain.
- In 2009, Sinopec successfully developed its bio-jet fuel production technology securing intellectual property rights followed by producing qualified bio-jet fuels for the first time in December 2011.