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13/07/2022 News

TotalEnergies China signs MOU with Hainan IEDB, Marking a new chapter of the Company’s engagement with Hainan Province

Beijing, July 14, 2022 – TotalEnergies China and Hainan Provincial Bureau of International Economic Development (Hainan IEDB) signed a memorandum of understanding (MOU), to accelerate the development of the Hainan Free Trade Port, promote high-quality economic development in Hainan and leverage the multinational company’s expertise and leading role in industry progress and regional economic development.

According to the MOU, based on the development concept of "innovation, coordination, green, openness and sharing", both parties will fully combine the industrial, geographical and innovation advantages of Hainan Province with TotalEnergies’ strengths in technology, management and capital advantages to actively promote clean energy projects in Hainan, including wind, solar, liquefied natural gas (LNG), hydrogen, carbon capture, utilization and storage (CCUS) and electric vehicle fast charging.

“TotalEnergies shares the ambition of getting the net-zero emission by 2050, together with society. To achieve this ambition, we have been committed to reinventing energy, accelerating the deployment of renewable, decarbonized energy, and providing more energy while combating climate change.” William Zhao, TotalEnergies China Country Chair, said, “As one of the first international energy companies to enter China since the reform and opening up, TotalEnergies has established extensive and close cooperation with Chinese partners over the past 40 years. China unveiled its target of reaching carbon neutrality by 2060, which sets the ground for mutual success. The cooperation marks that TotalEnergies will be integrated into the new pattern of coordinated development in Hainan, a new chapter of TotalEnergies’ engagement with and development in Hainan Province.”

Ji Guohui, an official from Hainan IEDB, expressed his welcome for TotalEnergies’ investment and business in Hainan and said, “as China’s largest special economic zone, Hainan, carries out the responsibility and shoulders a heavy historical mission of building a Free Trade Port, and is at the forefront of implementing the Regional Comprehensive Economic Partnership (RCEP) agreement. Currently, Hainan aims to build a whole industry chain for clean energy and provide favorable conditions for multiple energy development and utilization.  TotalEnergies is one of the top 500 companies in the world. As a leading role in the global energy industry, it has been deeply rooted in China for many years. We will offer preferential policies for multinational companies like TotalEnergies by launching island-wide independent customs operations. We look forward to TotalEnergies bolstering its industry chain in Hainan and advantages to exploit the potential to the full in technology, capital, talent, and experience.