QatarEnergy announced on Tuesday that it has 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.
Commenting on the agreement, the Minister of State for Energy Affairs, and the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi said: “We are delighted to further strengthen almost 50 years of partnership with Idemitsu, the leading Japanese refining and petrochemicals company, with this landmark agreement.”
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Notably, Japan’s Idemitsu Kosan has expanded its operations in multiple sustainable sectors, similar to QatarEnergy. Hence, it has been producing sustainable aviation fuel, electric vehicle batteries, and synthetic fuel.
This falls in line with QatarEnergy’s sustainability framework and the Qatar National Vision 2030. Thus, QatarEnergy LNG’s role in the global energy sector has become more crucial with cleaner energy sources becoming a fundamental component of greenhouse gas mitigation strategies globally.
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