QatarEnergy has entered into a long-term agreement to supply ENEOS Corporation, a prominent refining and petrochemical company based in Japan, with up to 9 million tons of naphtha over 10 years starting July 2024.
In remarks on this occasion, Eng. Saad bin Sherida Al Kaabi, Qatar’s minister of State for Energy Affairs, president and CEO of QatarEnergy stated, “This agreement builds on our successful and long-standing relationship with one of our valued Japanese partners. We look forward to creating more value and opportunities for the mutual benefit of both parties and to further strengthen our partnership.” This agreement represents the largest and longest commitment in more than a decade of collaborations between the two companies.
What is naphtha?
Naphtha is a refined or partially refined petroleum fraction used primarily for the production of aviation fuels and high-grade motor gasoline. Manufacturers also use naphtha as a solvent to produce petrochemical feedstocks or as raw materials to produce town gas.
Japan’s largest refining and petrochemical company
ENEOS Corporation is the largest refining and petrochemical company in Japan and is wholly owned by ENEOS Holdings, Inc. The Japanese conglomerate has been in the business of refining, manufacturing, and selling petroleum products for over 135 years since its establishment in 1888 as Nippon Oil Corporation.
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Expanding naphtha partnerships in India and Japan
Earlier in June 2024, QatarEnergy entered into a long-term agreement to supply India’s Haldia Petrochemicals Limited (HPL) with up to 2 million tons of naphtha over the next ten years, commencing in the second quarter of 2024. 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.
Also in June 2024, 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.
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