| 08 Feb 2010 |
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Qapco, Norgas sign pact for cargo transport
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DOHA: The Qatar Petrochemical CompanyQatar Petrochemical Company
(QapcoQapco) and Norwegian shipping company Norgas have signed a Contract Of Affreightment (COA) for the transportation of ethylene from Mesaieed to various international destinations in the year 2010. The agreement was reached as part of visionary directions of H E Abdulla bin Hamad Al Attiyah, Deputy Premier and Minister of Energy and Industry who is also the Chairman of Board of Directors of QapcoQapco.
Under the new contract, Norgas will transport 54,000MT to 65,000MT ethylene from Qapco/Mesaieed jetty in 2010, and this quantity can double after the startup of new Ras Laffan ethylene cracker. The approximate value of the contract for the base volume is QR.25m.
The COA signing ceremony was attended by QapcoQapco's General Manager, Dr Mohd Yousuf Al Mulla with Group Manger Commercial and Marketing, Abdulrahman Ali Abdullah and other group managers and senior executives.
Representing Norgas for the signing rite were Morits Skaugen, CEO and Terje Orehagen,President and COO along with other senior officials. Norgas has a long service history in Qatar and has been QapcoQapco's major ethylene transport provider for over 16 years.
QapcoQapco
by far a leading petrochemical company in the Middle East, has gained good reputation over the years for producing high quality products, competitive prices and distinguished after sale customer services. QapcoQapco's main products are Ethylene, Low Density Polyethylene (LDPE) and Sulphur. QapcoQapco produces 410,000MT LDPE per year and marketed under the "Lotrene" brand name. Majority of the production volume is exported into more than 87 countries through QapcoQapco's strong logistic and sales network supported by twenty six overseas offices and five remote regional warehouses.
QapcoQapco
's current ethylene production capacity reached 800,000MT per year. QapcoQapco consumes about 410,000MT ethylene for manufacturing LDPE and also supplies about 220,000MT ethylene to its subsidiary Qatar Vinyl Company (QVC)Qatar Vinyl Company (QVC) for manufacturing EDC /VCM and the balance is exported into international markets mainly for customers in Indian subcontinent, Asia and Europe. QapcoQapco will also market and sell the surplus ethylene from its subsidiary Qatofin Company Ltd (QATOFIN)Qatofin Company Ltd (QATOFIN) after the startup of the new Ras Laffan Cracker (RLOC) in which QatofinQatofin is a shareholder with QP and Q-Chem IIQ-Chem II. RLOC's ethylene production capacity is 1.3 Million metric tonne per year which is expandable up to 1.6 Million metric tones. Total ethylene export by QapcoQapco including QatofinQatofin's surplus would be in the range of 300,000 MT-350,000MT per year.
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