QatarEnergy signed a 10-year naphtha supply agreement with Japan-based Marubeni Corp.
The agreement was signed by QatarEnergy, for and on behalf of Qatar Petroleum for the sale of Petroleum Products Co. Ltd. (QPSPP), and Marubeni Petroleum Co. Ltd, a subsidiary of Marubeni Corp., QatarEnergy said in a release Sept. 26.
QatarEnergy will supply up to 1.2 million tons/year of naphtha to Marubeni beginning in October 2023. The agreement follows the 5-year naphtha sales agreement signed in 2018, which expires in September 2023.
Marubeni Corp. is the largest petrochemical feedstock trading entity and aggregator in Asia and has received continuous supplies of various grades of naphtha from Qatar since 1986 to supply a variety of end users in Japan.