The partnership will cover the development of low-carbon solutions.

By Shardul Sharma

US major ExxonMobil has signed a strategic cooperation framework agreement with China Oil and Gas Pipeline Network Corporation (PipeChina), the company said on November 10.

The companies will collaborate on a number of business opportunities, including traditional oil and gas transportation, fuels and lubes, as well as low-carbon solutions development.

“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,” said Koh Tze San, president of ExxonMobil China gas marketing.

Beijing established PipeChina in 2019 for the development of midstream assets including pipelines, LNG import terminals, and storage facilities. The company was formed through the transfer of assets and personnel from China’s three major national oil companies: CNPC, Sinopec and CNOOC.