Sinopec signed a contract with Tianjin City to invest another 70 billion yuan to build ethylene, LNG and other projects

On the 27th, the Tianjin Municipal Government and China Petrochemical Corporation signed a strategic cooperation framework agreement.

Sinopec's existing assets in Tianjin are more than 70 billion yuan.

Li Hongzhong, Secretary of Tianjin Municipal Party Committee, thanked Sinopec for its long-term support and assistance to Tianjin's development

Nangang Industrial Zone is a world-class petrochemical industry base clearly positioned in the outline of the Beijing-Tianjin-Hebei coordinated development plan

At the same time, the two parties will actively study and explore the trade business of crude oil, natural gas, chemicals and other bulk products in the Tianjin Pilot Free Trade Zone; jointly promote Sinopec’s natural gas business in Tianjin, the development and utilization of new energy such as geothermal and waste heat, and the construction of refined oil pipelines and Sales network construction; jointly ensure the safe and stable operation of Sinopec pipeline storage and transportation facilities in Tianjin; relying on Tianjin Haihe Industrial Fund, jointly promote the establishment of industrial investment funds, mainly for new energy, new materials, energy conservation and environmental protection, intelligent manufacturing and other industries.

Tianjin and Sinopec have maintained a good cooperative relationship for a long time, especially in the development of oil refining and chemical industry, and the construction of refined oil (natural gas) market