CIMC Enric and Sinopec Fuel Oil Sign Strategic Cooperation Agreement

Shenzhen, August 14 — CIMC Enric and Sinopec Fuel Oil Sales Co., Ltd. have signed a strategic cooperation agreement in Shenzhen, deepening their collaboration across the LNG value chain, vehicle-related services, shipbuilding and marine new-energy applications.

Under the agreement, the two companies will strengthen cooperation in three key areas: commercial implementation, industry development and trends, and joint technological innovation. Together, they aim to build a new clean-energy ecosystem by leveraging their complementary strengths in equipment, fuel resources, application scenarios and technology.

Yang Xiaohu, Executive Director and President of CIMC Enric, and Xu Tao, Deputy General Manager of Sinopec Fuel Oil Sales Co., Ltd., signed the agreement on behalf of the two companies. Gao Xiang, President of CIMC Group and Chairman of CIMC Enric, and Fang Haifeng, Chairman of Sinopec Fuel Oil Sales Co., Ltd., attended the signing ceremony.

The global shipping industry is accelerating its transition toward cleaner and lower-carbon operations as the International Maritime Organization (IMO) continues to tighten emissions regulations. At the same time, China is advancing its goals of peaking carbon emissions and achieving carbon neutrality, creating new opportunities for energy-equipment manufacturers and energy suppliers.

CIMC Enric has extensive capabilities across the clean-energy equipment value chain, while Sinopec Fuel Oil Sales benefits from Sinopec’s extensive resource and distribution network. Their complementary strengths have enabled the partnership to evolve beyond a conventional equipment supply relationship toward deeper integration of equipment, fuels, application scenarios and technologies.

The two companies began working together in October 2022, initially focusing on LNG and CNG storage and transportation equipment. Their cooperation has since expanded into marine equipment, green methanol bunkering, storage and transportation equipment, and external gas procurement, establishing a diversified portfolio of business activities.

The latest agreement builds on this existing cooperation and marks a new stage in the partnership.

Going forward, the two companies will focus on five key areas: resource cooperation, shipbuilding, marine fuel bunkering, vehicle-related solutions and integrated services. They will further develop the LNG value chain, with a focus on vehicle and vessel bunkering, while expanding into emerging areas such as green methanol and sustainable aviation fuel (SAF).

The partnership is expected to broaden the application of clean and low-carbon energy across the transportation sector and support the development of new-energy solutions for shipping and other mobility applications.