DOHA, Qatar: Qatar Petroleum has announced the signing of a sale and purchase agreement to directly supply China with 600,000 metric tons of Liquefied Petroleum Gas (LPG) per year for a period of five years.

The long-term agreement was signed by Qatar Petroleum for Sale of Petroleum Products Company Ltd. (“QPSPP”) and Oriental Energy (Singapore), with the contract starting in January 2019. 

Mr. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum, welcomed the signing, and said “This agreement reflects our marketing strategy for promoting direct engagement with end-users, especially in China. I would like to thank Oriental Energy for concluding this important agreement. We hope this deal will further enhance our energy relationship with China, as we place greater importance to meeting the needs of the world’s largest growing LPG market.”

Mr. Yan Jia Sheng, Vice-President of Oriental Energy Group and Managing Director of Oriental Energy (Singapore) International Trading Pte Ltd, signaled similar sentiments stating, “Through this first step, we hope to build a strong and sustainable relationship with Qatar Petroleum and to continue exploring other areas in which Qatar Petroleum and Oriental Energy can further collaborate on.”

Oriental Energy (Singapore) is a subsidiary of Oriental Energy, responsible for the procurement, trading and logistics of Oriental Energy.

Oriental Energy, China’s largest LPG player, has the largest LPG distribution network and LPG storage facilities in China. In addition, it has five major LPG importing terminals along with several petrochemical facilities. 

The LPG industry continues to enjoy sustainable growth in China where LPG is used for domestic use and the growing petrochemical sector.

-Ends-

About Qatar Petroleum

Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar and beyond.

Qatar Petroleum’s activities encompass the entire spectrum of the oil and gas value chain locally, regionally, and internationally, and include the exploration, production, processing, marketing and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel and aluminum.

Qatar Petroleum is committed to contribute to a better future by meeting today’s economic needs, while safeguarding our environment and resources for generations to come. Thriving on innovation and excellence, Qatar Petroleum is bound to the highest levels of sustainable human, socio-economic, and environmental development.

For more information, please visit www.qp.com.qa

About Qatar Petroleum for Sale of Petroleum Products Company Limited (QPSPP)

Qatar Petroleum for the Sale of Petroleum Products Company Limited ("QPSPP"), formerly known as Qatar International Petroleum Marketing Company Ltd. (Tasweeq), is a company established pursuant to Decree Law No. (15) of 2007 concerning the Organization of Marketing and Selling of Regulated Products Outside the State of Qatar, and is wholly-owned by the State of Qatar. In 2016, pursuant to Law No. (9) of 2016, Qatar Petroleum was appointed by the State of Qatar as QPSPP's marketing agent. 

© Press Release 2018

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.