QatarEnergy and Japanese Firm Marubeni Sign Naphtha Supply Agreement

QatarEnergy has entered into a significant and enduring naphtha supply agreement with Marubeni Petroleum, a subsidiary of the esteemed Japanese conglomerate Marubeni. This long-term pact solidifies their collaboration in the energy sector.

Commencing from October 2023, QatarEnergy, acting on behalf of Qatar Petroleum for the Sale of Petroleum Products Company, will provide Marubeni with a consistent supply of up to 1.2 million tonnes of naphtha per year for an impressive decade. This agreement marks a pivotal step in their ongoing partnership and builds upon a previous five-year naphtha sales arrangement inked in 2018, which is set to conclude in September 2023.

Marubeni Petroleum, a prominent player in the Asian petrochemical feedstock trading and aggregation arena, is QatarEnergy's chosen partner for this strategic venture. Since 1986, Qatar has been supplying various naphtha grades to Marubeni, thereby enabling the latter to cater to a diverse spectrum of Japanese end consumers with specialized requirements.

In addition to their supply agreements, QatarEnergy and Marubeni have cultivated a longstanding and fruitful strategic alliance, characterized by their involvement in several joint projects within the Qatari energy sector. Noteworthy among these initiatives are their investments in the Mesaieed and Al-Kharsaah solar power plants, showcasing their commitment to advancing sustainable energy solutions.

Commenting on this development, Saad Sherida Al-Kaabi, President and CEO of QatarEnergy, lauded the enduring and productive relationship between the two entities that spans multiple decades. He emphasized the significance of this agreement and the overarching collaboration between QatarEnergy and Marubeni Corporation. This collaboration underscores Japan's trust in Qatar as a dependable energy provider while further fostering bilateral cooperation between the two nations.

Notably, this is not the only significant agreement that QatarEnergy has entered into this year. In July, the company forged a substantial condensate supply deal with the United Arab Emirates' ENOC Group. Under this arrangement, QatarEnergy is slated to supply up to 120 million barrels of condensates to ENOC for an impressive decade, further solidifying its position in the global energy landscape.

Furthermore, QatarEnergy LNG, a subsidiary of QatarEnergy, recently awarded a front-end engineering design services contract to Worley, a reputable Australian engineering company. This contract represents yet another milestone in QatarEnergy's commitment to expanding its presence and influence in the global energy sector.

In conclusion, the enduring naphtha supply agreement between QatarEnergy and Marubeni Petroleum is a testament to their robust and fruitful partnership. With a focus on long-term collaboration and sustainable energy solutions, these two entities are poised to make a lasting impact on the global energy landscape, further strengthening Qatar's position as a reliable energy provider and fostering international cooperation.