QatarEnergy has entered into a long-term agreement to supply India’s Haldia Petrochemicals Limited (HPL) with up to two million tons of naphtha over the next ten years. The agreement, which is set to commence in the second quarter of 2024, will be facilitated through QatarEnergy’s wholly owned trading arm HPL Global Pte Ltd based in Singapore.
This new deal represents the largest commitment undertaken between the two companies to date, further strengthening the enduring and exemplary relationship between QatarEnergy and Haldia Petrochemicals, as well as between the Republic of India and the State of Qatar.
Strengthening Qatar-India energy partnership
Commenting on the agreement, H.E. Saad bin Sherida Al Kaabi, Qatar’s minister of State for Energy Affairs, president and CEO of QatarEnergy, expressed delight in the partnership, stating that it reaffirms Qatar’s continued commitment to contributing to India’s economic growth trajectory. Al Kaabi also highlighted Qatar’s role as a reliable and trustworthy energy supplier to India, emphasizing the collaborative efforts with key Indian partners to meet the evolving demands of the region.
In response, Dr. Purnendu Chatterjee, chairman of Haldia Petrochemicals, noted that this agreement will further solidify HPL’s long-standing partnership with QatarEnergy, one of the company’s key partners in its journey of growth. Chatterjee added that the deal aligns with HPL’s continuous efforts towards business development and strategic investment, ensuring the company can fulfill the demands of its customers worldwide while maintaining the quality that HPL has always been known for.
Haldia Petrochemicals operates an integrated petrochemical complex site in Haldia, West Bengal, India, with operations starting in the year 2000. It is one of India’s largest petrochemical companies, utilizing naphtha as its primary feedstock.
Read more: QatarEnergy expands production in largest oil field with $6 billion contracts
QatarEnergy’s long-term agreement with Idemitsu Kosan
Last week, QatarEnergy inked a long-term agreement to supply Japan’s Idemitsu Kosan Co. Ltd with up to 6 million tons of naphtha over the next 10 years starting in July 2024. Founded in 1911, Idemitsu Kosan has 64 offices in 20 countries and regions around the world, making it one of QatarEnergy’s most prominent partners.
The U.S. Energy Information Administration defines naphtha as a refined or partially refined petroleum fraction used primarily for the production of aviation fuels and high-grade motor gasoline. Moreover, manufacturers use naphtha as a solvent to produce petrochemical feedstocks or as raw materials to produce town gas.
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