On May 22, CNPC and China Shipping (Group) Company (abbr. China Shipping) signed a strategic cooperation agreement in Beijing.

The two companies will further enhance cooperation to leverage China Shipping’s shipping capacity and guarantee the transportation of CNPC’s crude, refined oil, LNG and chemical products, as well as the marketing of its refined oil and lube oil. Also, the two sides will join hands in developing offshore oil and gas shipping technologies, and technology and products to replace oil by gas for marine power.

CNPC Chairman Jiang Jiemin and China Shipping Chairman Li Shaode had a discussion on deepening cooperation and attended the signing ceremony. CNPC President Zhou Jiping and China Shipping Director and General Manager Xu Lirong signed the agreement on behalf of the two sides.

Established on July 1, 1997 and headquartered in Shanghai, China Shipping is one of the key state-owned enterprises and a super-large shipping conglomerate which mainly operates shipping across different regions, fields, countries and ownerships.