A cargo ship loaded with liquefied natural gas (LNG) docks at an LNG receiving terminal of Yangkou Port, Rudong county in East China's Jiangsu Province, on October 24, 2023. So far this year, Rudong's LNG terminal at Yangkou Port has handled more than 5 million tons of LNG. Photo: cnsphoto

Chinese energy companies have signed huge contracts at the ongoing 6th China International Import Expo (CIIE) in Shanghai, with at least two signing purchase deals worth more than $10 billion, the Global Times learned from exhibitors.

China National Petroleum Corp (CNPC) signed procurement contracts worth $17.1 billion with 22 partners at the event, the Global Times learned from the company.

Hou Qijun, general manager of CNPC, said on Monday at a sideline forum of the CIIE that the company's imports of natural gas are estimated to reach 90 billion cubic meters in 2023, accounting for more than 55 percent of the country's total imported gas.

CNPC has signed $110 billion in procurement contracts with 164 suppliers since the inaugural CIIE in 2018, the company said.

On Sunday, the first day of the 2023 CIIE, CHN Energy Investment Group (CHN Energy) signed contracts worth $2.64 billion with 44 companies from 20 countries and regions, including Mongolia, Switzerland, Indonesia, Germany and the US.

The main products purchased include high-quality coal, high-end equipment and spare parts and advanced technical services. The number of categories and the total value reached new highs, CHN Energy said in a statement.

Even before the official opening of the CIIE on Sunday, Chinese energy giant Sinopec had taken the lead in signing large orders on Saturday.

Sinopec signed purchase agreements with 38 partners from 16 countries and regions, involving 11 categories and 29 kinds of products such as crude oil, chemicals, equipment, materials and agricultural products, with a total value of $40.3 billion, the company said in a statement on its official WeChat account on Monday.

On Saturday, Sinopec signed an integration cooperation agreement with QatarEnergy for the second phase of the North Field South expansion project, including a 27-year purchase and sale agreement for liquefied natural gas.

Since 2018, Sinopec has signed contracts valued at over $244 billion, it said.

Global Times