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Haldia Petrochemicals (HPL) has inked an agreement with QatarEnergy for long-term supply of naphtha, a key ingredient used in petrochemicals as a feedstock
Under the agreement, QatarEnergy will supply up to two million tonnes (MT) of naphtha to HPL through its subsidiary, HPL Global Singapore, over the next 10 years, starting from the second quarter of 2024, the petrochemicals major said on Thursday.
“The long-term agreement was executed by HPL Global and QatarEnergy for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP),” it added.
The long-term agreement represents the largest commitment undertaken by the two companies to date, QatarEnergy said.
QatarEnergy President and CEO 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 relationship between our respective entities and between Qatar and India.”
Al-Kaabi, who is also Qatar’s Minister of State for Energy Affairs, said the Arab nation’s role as a reliable energy supplier to India, highlights collaborative efforts with strategic end-user petrochemical players such as HPL to meet the evolving energy demands of the region.
HPL Chairman Purnendu Chatterjee said: “We are pleased to announce this landmark agreement with QatarEnergy. This will further strengthen HPL’s longstanding partnership with QatarEnergy. This agreement resonates with HPL’s 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.”
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