QatarEnergy, representing Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP), has signed a significant long-term naphtha supply agreement with Marubeni Corporation, a prominent integrated trading and investment conglomerate based in Japan. This ten-year agreement, commencing from October 2023, solidifies the supply of up to 1.2 million tons per annum of naphtha to Marubeni, further reinforcing the robust and enduring partnership between the two entities.
The signing of this agreement follows a successful five-year naphtha sales agreement inked in 2018, set to conclude in September 2023. QatarEnergy’s commitment to long-term cooperation with Marubeni Corporation highlights the strategic and productive relationship shared between the two entities over several decades.
Commenting on this development, His Excellency Minister of State for Energy Affairs and President and CEO of QatarEnergy, Eng. Saad bin Sherida Al Kaabi, emphasized the strengthening ties between QatarEnergy and Marubeni Corporation. He noted that this extended collaboration underscores Japan’s trust in Qatar as a reliable energy provider and fosters further cooperation between the two nations.
QatarEnergy and Marubeni Corporation have cultivated a lasting strategic partnership with shared investments in Qatar’s energy sector. Notably, they have invested in the Al-Kharsaah solar power plant and the Mesaieed power plant.
Marubeni Corporation, Asia’s largest petrochemical feedstock trading entity and aggregator, has received consistent and dependable supplies of various naphtha grades from Qatar since 1986. This reliability has enabled Marubeni Corporation to provide a diverse range of end users in Japan with a stable supply of naphtha.
This extended naphtha supply agreement reaffirms QatarEnergy’s commitment to delivering high-quality energy products to its global partners while strengthening the bond between Qatar and Japan in the energy sector.
