China Petroleum & Chemical Corporation (Sinopec) and French multinational energy and petroleum company TotalEnergies have signed a heads of agreement for a joint venture on sustainable aviation fuel (SAF) production. The fuel will be produced from waste oils at one of Sinopec's refineries, with the new production line cooperated by both parties.
""With the integration of Sinopec's specialised bio-jet fuel technology and our dedication to improving our assets' quality and efficiency, along with TotalEnergies' leading role in Europe's SAF production, we are well-equipped to supply superior green and low-carbon solutions around the globe,"" said Sinopec chairman Ma Yongsheng.
""This project is central to TotalEnergies' transformation strategy aimed at supporting the aviation sector's carbon footprint reduction efforts,"" said TotalEnergies CEO and chairman Patrick Poyanne. ""The company has set an ambitious target to produce 1.5 million tons of SAF annually by 2030.""
The joint venture is aiming to achieve an annual production capacity of 230,000 tonnes of SAF.
Sinopec and TotalEnergies ink agreement for SAF production
