NIS and Chinese Sinopec to jointly develop green energy and CO2 storage projects

Naftna Industrija Srbije (NIS) and its Science and Technology Center (STC) have signed the Memorandum on science-technological cooperation with the Chinese company Sinopec Petroleum Engineering Corporation. According to the press release by NIS, the memorandum defines the intention to establish science-technological cooperation in fields of mutual interest, with a focus on renewable energy sources, including CO2 carbon capture, utilization and storage (CCUS), low-carbon hydrogen production and the production of energy from geothermal and solar sources.

– Considering that both companies strive to contribute to a more sustainable future in the energy sector, while using state-of-the-art technologies, this cooperation opens new roads toward the energy transition, decarbonization and improvement of environmental protection – the press release says.

Sinopec Petroleum Engineering Corporation is a daughter company of Sinopec Group (China Petrochemical Corporation), a Chinese state company. Sinopec Group is the biggest supplier of oil and petrochemical products in China and the biggest processing company, as well as the second biggest chemical company in the world. By the total number of gas stations within its retail network, they are second globally.

The memorandum was signed in the premises of NIS in Belgrade by Andrei Shoshin, the deputy CEO and director of the Exploration & Production Block at NIS, Leonid Stulov, the director of STC, and Zhang Jian, the main expert in the field of energy saving and environmental protection at Sinopec Petroleum Engineering & Construction Corporation.

The signing was also attended by Kirill Tyurdenev, the CEO of NIS, Xi Zhiguo, the president of Sinopec Petroleum Engineering & Construction Corporation, Sun Yenan, the representative of the parent company China Petrochemical Corporation, known as Sinopec Group, Vladimir Gagic, the director of the Processing Block in NIS, as well as representatives of other subsidiaries of Sinopec which might be hired for joint activities.

NIS a.d. Novi Sad

Naftna industrija Srbije

Science and Technology Center NIS

Sinopec Petroleum Engineering Corporation

renewable energy sources

CO2 storage

geothermal sources

solar energy sources

production of low carbon hydrogen