Kolkata: City-based petrochemical major Haldia Petrochemicals Ltd (HPL) has entered into a strategic agreement with QatarEnergy to ensure stable supply of naphtha for the coming decade, an official said on Thursday.
The contract states that QatarEnergy will provide up to two million tonnes of naphtha to HPL for 10 years through its Singapore-based subsidiary, HPL Global Pte Ltd, starting in the second quarter of 2024.
This long-term agreement, signed by HPL Global Pte Ltd and QatarEnergy on behalf of Qatar Petroleum for the sale of Petroleum Products Company Limited (QPSPP), represents the largest commitment to date between the two entities, a company statement said without disclosing The stated value of the deal.
Saad Sherida Al-Kaabi, Minister of State for Energy and Chairman and CEO of QatarEnergy, expressed satisfaction over the deal, saying, "It reinforces Qatar's dedication to contributing to India's economic expansion."
He also highlighted Qatar's role as a trusted energy provider to India, noting joint efforts with strategic petrochemical end users like HPL to meet the region's growing energy needs.
HPL Chairman Purnendu Chatterjee said the agreement strengthens our long-standing partnership with QatarEnergy.He emphasized that this agreement is in line with HPL's ongoing efforts in business development and strategic investments aimed at meeting the demands of global customers while maintaining product quality.
HPL is one of the largest petrochemical companies in India, with an annual ethylene production capacity of 700,000 tonnes. The company has adopted process technologies from leading licensors to manufacture top-tier products while keeping safety and environmental sustainability at the forefront.
The contract states that QatarEnergy will provide up to two million tonnes of naphtha to HPL for 10 years through its Singapore-based subsidiary, HPL Global Pte Ltd, starting in the second quarter of 2024.
This long-term agreement, signed by HPL Global Pte Ltd and QatarEnergy on behalf of Qatar Petroleum for the sale of Petroleum Products Company Limited (QPSPP), represents the largest commitment to date between the two entities, a company statement said without disclosing The stated value of the deal.
Saad Sherida Al-Kaabi, Minister of State for Energy and Chairman and CEO of QatarEnergy, expressed satisfaction over the deal, saying, "It reinforces Qatar's dedication to contributing to India's economic expansion."
He also highlighted Qatar's role as a trusted energy provider to India, noting joint efforts with strategic petrochemical end users like HPL to meet the region's growing energy needs.
HPL Chairman Purnendu Chatterjee said the agreement strengthens our long-standing partnership with QatarEnergy.He emphasized that this agreement is in line with HPL's ongoing efforts in business development and strategic investments aimed at meeting the demands of global customers while maintaining product quality.
HPL is one of the largest petrochemical companies in India, with an annual ethylene production capacity of 700,000 tonnes. The company has adopted process technologies from leading licensors to manufacture top-tier products while keeping safety and environmental sustainability at the forefront.
