Qatar Petroleum (QP) announced the signing of a sale and purchase agreement to directly supply China with 600,000 metric tonnes of Liquefied Petroleum Gas (LPG) annually, 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.
QP President and CEO Saad Sherida Al Kaabi welcomed the new deal and said the agreement reflects the company’s 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.’
Yan Jia Sheng, Vice President of Oriental Energy Group and Managing Director of Oriental Energy (Singapore) International Trading Pte Ltd, signified a similar sentiment.
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.’
Oriental Energy (Singapore) is a subsidiary of Oriental Energy, responsible for the procurement, trading and logistics of the largest LPG player in China. It has the largest LPG distribution network and LPG storage facilities in the country. 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.
For updates and more information about Qatar Petroleum, visit qp.com.qa.