ENGIE signed two major agreements in China
OREANDA-NEWS. In presence of the French and Chinese Heads of State, ENGIE signed two major agreements in Beijing this Monday 2nd November 2015, with Chinese energy groups, respectively China Huaneng Group and Beijing Enterprises Group. Both agreements express the ambition of ENGIE to pursue its growth through partnerships and cooperation activities with key Chinese partners, not only in China, but also abroad.
Those global agreements consider the entire energy value chain: power, natural gas and energy services, with a specific focus on efficient and innovative solutions able to take on the challenges of energy’s transition to a low-carbon economy.
China Huaneng and ENGIE are leading energy companies with a strong base in their respective country, but also expanding abroad and considering each other as partners of business development. Both parties wish to further expand their scope of cooperation including development and investment in the areas of the gas value chain (LNG infrastructures, LNG supply and downstream natural gas industry chain, coal-bed methane), conventional and renewable energy resources, scientific and technological cooperation on advanced power technologies, with a view to cleaner and renewable energy, energy saving and emissions reduction.
Beijing Enterprises Group and ENGIE are willing to carry out their historical and trustful cooperation with a view to partner in China, jointly study and develop green supply and efficient management of energy for the 2022 Winter Olympic Games hosted by Beijing and the province of Hebei and energy infrastructures and services to the Beijing - Tianjin - Hebei “capital circle” region. Through this new agreement, both parties also wish to expand their LNG supply activity in the wake of the opportunities created by the opening of Chinese gas market and jointly develop energy projects in third party countries, benefiting from mutual assets and positions.
Gérard Mestrallet said: “These signings underscore ENGIE’s ambition to pursue its development in China, leveraging on our strong positions in independent power production, gas value chain and energy services. We look forward to working closely with key Chinese partners, enhancing industrial cooperation and sharing business practices and lessons of experience in the industry, to address in a stronger way the challenges of the energy transition the world is facing.”