At the ninth China International Import Expo, the great state energy companies of China gathered their purchasing power and placed it before the world, while foreign firms arrived with storage batteries, grid tools and carbon-capture machinery in hand. It is a moment in which an old economy built on oil and gas begins, slowly and with considerable money, to reach toward a different kind of power. The figures are large and the intentions are plain, yet they are still promises written on paper, and the real measure of this season will be the plants and pipelines that eventually rise from them.
Chinese Energy Giants and Global Tech Firms Deepen Ties at 9th CIIE Amid Green Transition
Traditional resources still anchor the buying
Mark
The headline numbers are huge. Sinopec alone says $41.3 billion. What is actually being counted?
Mimi
Contract value across 37 partners in 18 countries and regions, covering 29 product types in 14 categories. It includes things like AI, high-end equipment and digital supply chains, not just crude.
Mark
And CNOOC's $13.6 billion is a record for them?
Mimi
Yes, and it covers crude, natural gas, deep-water equipment and technical services. PowerChina also hit its own expo high at $677 million, with Siemens Energy, GE Vernova, Hitachi Energy and Caterpillar among its counterparties.
Luke
I'd flag that these are signed agreements reported by the companies. Nothing here says how much will be delivered or on what timeline.
Mimi
Fair. The report gives signing totals and cumulative figures, not fulfillment.
Mark
What's the second thread, beyond the buying?
Mimi
Foreign firms pitching technology. Toshiba has variable-speed pumped storage and CO2 capture, Siemens Energy has a broad portfolio with several China debuts, and Honeywell talks about taking China-validated products abroad.
Luke
Those exhibitor statements are aspirations. Toshiba, Siemens Energy and Honeywell say they see opportunity, but no sales figures for them appear here.
Mark
So what do we actually know?
Luke
That large agreements were signed and that firms are positioning for storage and decarbonization demand. The outcomes are still unknown.
El Pulso
- Sinopec, CNPC, CNOOC and PowerChina have pushed their procurement totals into the billions, with Sinopec reporting $41.3 billion in contracts across 37 partners.
- CNOOC's $13.6 billion total stands as a record for the company, a figure that stirs both ambition and the pressure to keep pace.
- Foreign firms such as Toshiba, Siemens Energy and Honeywell are working to place storage, grid and decarbonization technology in front of buyers who now have room to choose.
- The contracts are company-reported, so the real test is whether this contracted value turns into delivered equipment and installed projects in the months ahead.
At the ninth China International Import Expo, the great state energy companies of China gathered their purchasing power and placed it before the world, while foreign firms arrived with storage batteries, grid tools and carbon-capture machinery in hand. It is a moment in which an old economy built on oil and gas begins, slowly and with considerable money, to reach toward a different kind of power. The figures are large and the intentions are plain, yet they are still promises written on paper, and the real measure of this season will be the plants and pipelines that eventually rise from them.
At the 9th China International Import Expo, the energy sector produced some of the largest numbers on the floor. Sinopec reported agreements with 37 partners from 18 countries and regions, covering 29 product types across 14 categories, with total contract value reaching $41.3 billion. CNPC signed 38 agreements with 35 global partners worth more than $18.8 billion, with counterparties including Saudi Aramco, Petrobras and TotalEnergies. CNOOC closed contracts with 20 global suppliers totaling $13.6 billion, a new record for the company.
Oil, gas and crude still anchor most of this buying, but equipment and low-carbon technology are gaining attention. PowerChina signed $677 million in contracts this year, its highest figure at the expo, with partners including Hitachi Energy, Caterpillar, Siemens Energy and GE Vernova. Sinopec Chairman Hou Qijun urged wider cooperation on resource development, LNG trade, pipelines, energy storage and peak-shaving, and called for deeper exchange on carbon trading and green finance.
Foreign exhibitors are answering this demand directly. Toshiba showed variable-speed pumped-storage technology to help grids absorb renewable power, along with carbon dioxide capture for thermal plants. Siemens Energy displayed many products making their China debut, and Honeywell described an open-architecture ecosystem aimed at energy storage and low-carbon partners. Each company hopes to carry what it proves in China into global markets.
These figures come from the companies themselves, so the next thing to watch is how much of the contracted value becomes delivered goods and working projects.
At the 9th China International Import Expo, the energy sector produced some of the largest numbers on the floor. Sinopec Group reported agreements with 37 partners from 18 countries and regions. The deals cover 29 types of products across 14 categories, including artificial intelligence, high-end equipment and digital supply chains, and their total contract value reached $41.3 billion.
CNPC signed 38 agreements with 35 global partners, worth more than $18.8 billion. Its counterparties included Saudi Aramco, Petrobras and TotalEnergies. The agreements span oil and gas resources, new materials, high-end equipment and green, low-carbon solutions.
CNOOC signed import procurement contracts and cooperation agreements with 20 global suppliers. The total reached $13.6 billion, which the report describes as a new record for the company. The contracts cover crude oil, natural gas, deep-water oil and gas equipment and advanced technical services. Since the first CIIE in 2018, Sinopec, PetroChina and CNOOC have reached cumulative contract values of $366 billion, $163.6 billion and more than $100 billion respectively at the event.
Traditional resources still anchor the buying, but equipment and low-carbon technology are drawing growing attention from China's centrally administered energy companies. PowerChina signed contracts totaling $677 million this year, its highest figure at the expo. Its counterparties included Hitachi Energy, Caterpillar, Siemens Energy and GE Vernova, and the agreements cover high-end energy equipment, smart grid infrastructure and advanced energy storage systems. PowerChina has attended all nine editions of the CIIE and has now passed $2 billion in cumulative contracts.
Sinopec Chairman Hou Qijun used the occasion to propose wider cooperation on oil and gas resource development, LNG trade, pipeline network construction, and energy storage and peak-shaving, with the aim of helping keep global energy markets stable. He also called for deeper exchanges on carbon trading, green finance and sustainable energy investment.
On the exhibitor side, foreign technology firms are pitching directly to this demand. Toshiba brought variable-speed pumped-storage technology, which adjusts the rotational speed of pump-turbines to give the grid more flexibility in absorbing new energy sources. It also showed carbon dioxide separation and recovery technology that captures and reuses emissions from thermal power plants and other industrial facilities. A representative of Toshiba (China) said the company intends to apply its long experience in clean energy, storage, power system flexibility and emission reduction to the specific needs of the Chinese market.
Siemens Energy displayed products and solutions spanning power generation, grid infrastructure, industrial applications, energy storage and digital systems, many making their China debut. Yao Zhenguo, Senior Vice President and head of its Greater China region, said China's push to build a new energy system and a new type of power system opens wide room for technological innovation and industrial collaboration.
Honeywell's Yu Feng, President of Honeywell Technology in Greater China, said the company is using an open-architecture ecosystem to connect with partners in energy storage and low-carbon energy. Honeywell hopes to take innovations developed for Chinese demand and validated in China to the global market. The figures here come from company-reported agreements, so the next thing to watch is how much of the contracted value turns into delivered goods and installed projects.
Citas Notables
China is accelerating the development of a new energy system and a new type of power system, creating vast opportunities for energy technology innovation and industrial collaboration.— Yao Zhenguo, Senior Vice President, Siemens Energy, head of Greater China
Sinopec proposed deeper cooperation on oil and gas development, LNG trade, pipelines, and energy storage and peak-shaving to help keep global energy markets stable.— Hou Qijun, Chairman of Sinopec (paraphrased)
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