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Air Liquide signed a new long term contract with Maoming Petrochemical Co. (MPCC), a subsidiary of China Petroleum & Chemical Corp. (Sinopec Corp.), one of the largest integrated energy and chemical companies in China. Under the terms of the new agreement, Air Liquide will invest around 40 million euros in a new state of the art ASU (Air Separation Unit), with a total capacity of 850 tonnes of oxygen per day

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A string of aggressive growth initiatives from Chinese energy companies like Sinopec and CNOOC shows that the world's second largest economy is very thirsty for oil.