Qatar Petroleum Concludes Two 5Y Naphtha Sale Agreements with Japan

Source: www.gulfoilandgas.com 10/3/2018, Location: Middle East

Qatar Petroleum, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has concluded two 5-year sales agreement to supply Japan’s Marubeni Corporation an annual total of 1.2 million metric tons of Naphtha starting from October 2018.

The agreements are the largest and longest to be concluded with Marubeni Corporation since both parties started their naphtha business together over three decades ago.

Marking this achievement, the President and CEO of Qatar Petroleum, Mr. Saad Sherida Al-Kaabi said: “This contract will further enhance the strategic partnership and relationship between Qatar Petroleum and Marubeni Corporation. Both our entities have been working together for decades and have enjoyed a fruitful partnership.” Mr. Al-Kaabi said “The State of Qatar is a trusted supplier of energy to Japan, and through cooperation with partners like Marubeni Corporation, we can help meet Japan’s growing need for energy products.”

Mr. Fumiya Kokubu President and CEO, Member of the Board of Marubeni Corporation reiterated the sentiment saying “This long term contract with Qatar Petroleum will not only respond to the growing Petrochemical Feedstock demand in Japan and Asia, but is also “win-win” business model for the both of us. This deal validates Qatar Petroleum and Marubeni Corporation as strategic partners who continue to add value to their existing investments in LNG, Refineries and Power Plants.”

Qatar Petroleum and Marubeni Corporation have a long-standing strategic partnership through several shared investments in the energy industry. This includes Qatar Liquefied Gas Company Limited (Qatargas 1), which produces and exports about 10 million tons of LNG per annum, and the two Ras Laffan-based condensate refineries, Laffan Refinery 1 and 2, which have a combined daily processing capacity of 292,000 barrels. In addition, Marubeni Corporation and Qatar Petroleum are investors in the Qatar-based 2000 MW Mesaieed Independent Power Plant, Mesaieed Power Company Ltd (MPCL).

Marubeni Corporation is the largest Petrochemical Feedstock trading entity and aggregator in Asia. It has received continuous and stable supplies of various grades of Naphtha from Qatar since 1986, which has enabled Marubeni Corporation to reliably supply a variety of end users in Japan. ?


Singapore >>  4/15/2021 - Pavilion Energy Singapore Pte. Ltd. (Pavilion Energy) has imported a carbon neutral LNG cargo into Singapore – the first for Singapore and Pavilion En...
Japan >>  4/7/2021 - Chevron Corporation (CVX) announced its wholly-owned subsidiary Chevron U.S.A. Inc. (Singapore Branch) (CUSA) has signed a binding Sale and Purchase A...

Bangladesh >>  4/6/2021 - Excelerate Energy L.P. (Excelerate) completed its 2000th commercial ship-to-ship (STS) transfer of liquefied natural gas (LNG) on April 03, 2021, at E...
United States >>  4/6/2021 - UGI Corporation (UGI) announced that its wholly owned subsidiaries UGI Utilities, Inc. and UGI Energy Services, LLC have joined the Natural Gas Supply...

Brazil >>  4/5/2021 - Petrobras informs that as of May 1, 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter...
Algeria >>  4/1/2021 - “SONATRACH and Shell International Trading and Shipping Company Limited signed a Memorandum of Understanding on April 1, 2021. ...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.