DOHA, Qatar:- 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.
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© 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.