China and France signed $15 billion contracts during a visit of France’s President Emmanuel Macron to China including a contract to develop a LNG terminal and storage facility in China’s North port of Tianjin. The contracts include a variety of sectors, such as energy, agriculture and aeronautics.
According to Reuters, the energy deals also include an MoU between Beijing Gas Group and French utility Engie (ENGIE.PA) to collaborate on a liquefied natural gas terminal and storage in the northern city of Tianjin.
The French Engie will be the one providing technology support, to be used for gas leak prevention in the massive gas storage projects that China is developing.
In addition, the contracts also include the deal between China’s power and energy industry player Shenery Group and France’s Total to distribute LNG by truck in Yangtze river delta.
In October, China’s energy company Zhejiang Energy entered into cooperation agreement with Total to set up a joint venture for the development of low sulphir fuel for the market.
