India-based Haldia Petrochemicals Limited has announced the signing of a strategic long-term naphtha supply agreement with QatarEnergy. 

 

Under this deal, QatarEnergy will supply a total of up to two million tons of naphtha to HPL (through its 100% subsidiary, HPL Global Private Limited, Singapore) over the next 10 years, starting from the second quarter of 2024.

 

The long-term agreement was executed by HPL Global and QatarEnergy, for Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) representing the largest commitment undertaken between the two companies.

 

On the strategic pact, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President, and CEO of QatarEnergy, said: "We are pleased to sign this agreement, which reaffirms our continued commitment to be part of India’s economic growth trajectory. We take great pride in the longstanding exemplary relationship between our respective entities and between Qatar and India."

 

Al Kaabi, emphasising the role of Qatar as a reliable energy supplier to India, highlighted the collaborative efforts with strategic end-user petrochemical players such as Haldia Petrochemicals to meet the evolving energy demands of the region.

 

On the agreement, HPL Chairman Dr Purnendu Chatterjee said: "We are pleased to announce this landmark strategic agreement with QatarEnergy. This will further strengthen HPL’s long-standing partnership with Qatar Energy, one of our key partners in this journey of growth."

 

"This landmark agreement resonates with HPL's continuous efforts towards business development and strategic investment to fulfil the demands of our customers worldwide, maintaining the quality of the products HPL has always been known for," he added.-TradeArabia News Service