Qatar Petroleum, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has concluded two five-year sales agreement to supply Japan’s Marubeni Corporation an annual total of 1.2 million metric tonnes of Naphtha, starting this month.
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.
According to QP President and CEO Saad Sherida Al Kaabi, the contract will further enhance the partnership between Qatar Petroleum and Marubeni Corporation.
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.’
Fumiya Kokubu President and CEO, and a member of the Board of Marubeni Corporation, reiterated the sentiment.
This long term contract with Qatar Petroleum will not only respond to the growing Petrochemical Feedstock demand in Japan and Asia, but is also a ‘win-win’ business model for both our companies.’
Qatar Petroleum and Marubeni Corporation have a long-standing 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 tonnes of LNG per annum, and 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 also investors in 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 supply a variety of end users in Japan.
QP Chief Met with Japanese Foreign Minister
Al Kaabi also visited Tokyo and meet with Japan’s Minister of Foreign Affairs, Taro Kono. They discussed bilateral relations and cooperation between Japan and Qatar, particularly in the oil and gas industry. Qatar ambassador to Japan, Hassan bin Mohammad Rafi Al Emadi and Qatargas CEO Sheikh Khalid Bin Khalifa Al Thani also attended the meeting.
For updates and more information about Qatar Petroleum, visit qp.com.qa.