Mubasher: Qatar Petroleum (QP) on Wednesday announced that it has signed a five-year sales agreement with Japan’s Marubeni Corporation.
Under the agreement, the Qatari state-run firm will supply the Japanese company with 1.2 million metric tonnes of Naphtha annually starting from October 2018, according to the QP’s statement on its website.
“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,” Saad Sherida Al-Kaabi, president and CEO of QP, commented.
This agreement follows the strategies of the two companies concerning investments in liquefied natural gas (LNG), refineries and power plants.
“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,” Fumiya Kokubu, president and CEO of Marubeni, said.
It is worth noting that both Marubeni Corporation and Qatar Petroleum are investors in the Qatar-based 2000 MW Mesaieed Independent Power Plant.
Marubeni Corporation is considered the largest Petrochemical Feedstock trading entity and aggregator in Asia
