By DayakDaily Team
KUALA LUMPUR, May 31: Petroliam Nasional Berhad (PETRONAS) and China Petrochemical Corporation (Sinopec) have signed a memorandum of understanding (MoU) which highlights sustainable growth in speciality chemicals and decarbonisation driving efforts across the energy value chain.
According to PETRONAS’ press statement released today, their collaboration will be focusing on sustainable growth in commodity areas and speciality chemicals, crude oil and liquefied natural gas (LNG) trading, lubricants, and digital solutions.
The collaboration also drives efforts in decarbonisation for many industries, such as manufacturing, aviation, shipping, transportation, and power, which enables them to reduce their carbon footprint while remaining competitive.
The MoU signed by both PETRONAS and Sinopec demonstrates their commitment to ensuring an affordable and resilient energy supply that encourages economic growth and development in the Asia Pacific region while accelerating the transition to a low-carbon economy.
PETRONAS and Sinopec have fostered a partnership since 1997, initially established through a production-sharing contract in South Sudan to conduct exploration and production work together with other partners.
Their cooperation has extended across gas and downstream sectors, including the delivery of LNG and petrochemical products to support Sinopec’s gas terminal expansion plan, as well as sourcing a diverse range of applications to other industries. — DayakDaily
