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Global oil and gas giants gathered in Zhoushan, Zhejiang, the second IPEC reached a cooperation of 165.6 billion yuan
The release date :2018-10-25 viewed :time The font :[big middle small]

  On October 18-20, the second IPEC was held in Zhoushan, Zhejiang Province. Eight of the top 10 oil companies in the world, seven of the top 10 petrochemical companies in the world, four of the world's five largest oil and gas traders, and the world's major commodity exchanges, the world's top two shipping companies and oil and gas companies. More than 800 Chinese and foreign guests from 34 countries and regions attended the conference.


  During the conference, 25 major projects focusing on the construction of the whole oil and gas industry chain, and the agreed amount reached 165.6 billion yuan. Both of them exceeded the previous one. Among them, there are 14 foreign funded projects accounting for 56% of the total number of projects and 11 projects whose cooperating parties are foreign-funded world`s top five hundred enterprises as well as oil and gas giants.

   At the meeting, Exxon Mobil Corporation, the largest oil and gas company in the United States, and Zhejiang Energy Group signed the first intention agreement for long-term supply of LNG. Peter Clarke, vice president of Exxon Mobil and president of Exxon Mobil Gas and Power Marketing, said: "Over the past 25 years, Exxon Mobil has built the largest LNG train and cruise ship. It has enough resources in the field of natural gas. I hope that signing a contract with Zhejiang Energy Group can help us realize mutual benefits and a win-win situation through a good cooperation.”

   Saudi Arabian Oil Company , the largest oil and gas company, also signed a crude oil supply agreement with Zhejiang Rongsheng Petrochemical Corporation. Abdulaziz M.Al-Judaimi, Senior Vice President of Saudi Aramco, said: "Saudi Aramco has been working with China for 27 years and we will continue to meet the changing needs of the Chinese market and provide cleaner and more efficient crude oil. In addition, Saudi Aramco will also sign a contract with the Zhejiang Provincial Government to become a shareholder of local oil refining projects in Zhejiang."

    At the same time, BP, one of the world`s largest petrochemical companies, also signed a strategic cooperation framework agreement with Zhejiang Wuchan Zhongda Group. The two parties would focus on promoting the import, procurement, storage, processing and logistics of crude oil, refined oil import and export, international trade of fuel oil and other whole oil-product industry chain services.

  According to statistics, in 2017, global oil consumption was 4.6 billion tons and natural gas consumption was 1.89 trillion square meters. It is expected that by 2035, oil will remain the world`s largest energy source, and natural gas will surpass coal and become the second largest energy source. The International Energy Agency predicts that in 2030, China will replace the United States as the world`s largest oil consumer. In 2019, China will become the world`s largest natural gas importer, contributing to 37% of global natural gas consumption growth over the next five years.

  “In recent years,”said‘Yuan Jiajun, Governor of Zhejiang Province, said ,“that Zhejiang went with the tide of the global energy development and actively integrated into a more open world oil and gas pattern. She introduced a number of oil and gas enterprises and launched a number of landmark projects. The oil and gas trade had developed rapidly, and the construction of the oil and gas industry had been on the fast track. It was understood that since the listing, the number of registered enterprises in the Zhejiang Pilot Free Trade Zone reached 9,566 with a registered capital of 375.2 billion yuan, including 2,203 oil and gas enterprises with a registered capital of 132.8 billion yuan. And a total of 339 foreign-invested enterprises with a registered capital of 72.1 billion yuan were introduced.

   At the same time, oil and gas projects are continuously launched. On October 19th, the first phase of the Xinao Zhoushan LNG storage and refueling station will be officially put into operation. This is an important part of the China (zhejiang) Pilot Free Trade Zone to build a whole oil and gas industry chain. It is reported that the project investment reaches 5.8 billion yuan, and it can process 3 million tons of liquefied natural gas annually. After the target output is reached, it is expected to achieve an annual LNG treatment capacity of 3 million tons. The annual sales can reach 14 billion yuan, and profits and taxes of more than 800 million yuan can be achieved. The capacities of the second and third phases of the project will be upgraded to 5 and 10 million tons per year.

  The relevant person in charge of the enterprise said: “10 million tons of natural gases per year are equivalent to about 14 billion cubic meters of natural gases. In 2017, Zhejiang natural gas consumption just exceeded 10 billion cubic meters. It is obvious that according to our planned loading and unloading capacity have the ability to provide enough natural gases for cities and enterprises along the Yangtze River Economic Belt.


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