CHINA Petroleum & Chemical Corp, or Sinopec, has agreed with Nordic financial group Glitnir to strengthen ties to develop geothermal energy in China.

They will develop the technology involved in individual projects as well as explore new opportunities in district heating and energy generation, according to a joint statement.

Further cooperation will be supported by Geysir Green Energy and Reykjavik Energy Invest, the world's leading geothermal investment companies.