Thursday 18 July 2024

Haldia Petrochemicals enters 10-year naphtha deal with QatarEnergy

Kolkata, June 16, 2024

India's Haldia Petrochemicals Limited (HPL) has announced a strategic agreement with QatarEnergy,  securing long-term naphtha supply. 
Under this agreement, QatarEnergy will supply a total of up to two million tons of naphtha to HPL (through its 100% subsidiary, HPL Global Pte Limited, Singapore) over the next 10 years, starting from the second quarter of 2024.
The long-term agreement was executed by HPL Global Pte Ltd. and QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) representing the largest commitment undertaken between the two companies, said a statement.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President, and CEO of QatarEnergy, said: "We are pleased to sign this agreement, which reaffirms our continued commitment to be part of India’s economic growth trajectory. We take great pride in the longstanding exemplary relationship between our respective entities and between the State of Qatar and the Republic of India."
Minister Al-Kaabi further emphasised the role Qatar plays as a reliable and trustworthy energy supplier to India, highlighting the collaborative efforts with strategic end-user petrochemical players such as Haldia Petrochemicals to meet the evolving energy demands of the region.
Dr Purnendu Chatterjee, Chairman, HPL, said: “We are pleased to announce this landmark strategic agreement with QatarEnergy. This will further strengthen HPL’s long-standing partnership with Qatar Energy, one of our key partners in this journey of growth. This landmark agreement resonates with HPL's continuous efforts towards business development and strategic investment to fulfil the demands of our customers worldwide, maintaining the quality of the products HPL has always been known for." - TradeArabia News Service



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