MEOG: QatarEnergy signs another naphtha supply deal

State-owned QatarEnergy this week signed a 10-year deal to supply naphtha to Japan’s Idemitsu Kosan. The deal calls for the supply of a total of up to 6mn tonnes of naphtha between subsidiaries Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) and Marubeni Petroleum, beginning in July.

In a press release on its website, QatarEnergy quoted CEO and Qatari Minister of State for Energy Affairs, HE Saad Sherida Al Kaabi as saying: “We are delighted to further strengthen almost 50-years of partnership with Idemitsu, the leading Japanese refining and petrochemicals company, with this landmark agreement, which will bring further benefits to both sides.”

QPSPP offers six different grades of naphtha in cargoes ranging from 25,000-50,000 tonnes, all of which are largely consumed by Asian cracking facilities as petchem feedstock.