Haldia Petrochemicals Limited (HPL) is pleased to announce a strategic agreement with QatarEnergy, a move that secures long-term naphtha supply. Under this agreement, QatarEnergy will supply a total of up to two million tons of naphtha to HPL (through its 100% subsidiary, HPL Global Pte Limited, Singapore) over the next ten years, starting from the second quarter of 2024.
Haldia Petrochemicals has signed a strategic agreement with QatarEnergy for the supply of up to two million tons of naphtha over ten years, starting in Q2 2024.
This deal, the largest between the companies, underscores Qatar’s commitment to supporting India’s economic growth.
The partnership aims to meet global customer demands while maintaining product quality.
The long-term agreement was executed by HPL Global Pte Ltd. and QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP) representing the largest commitment undertaken between the two companies.
Commenting on this agreement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President, and CEO of QatarEnergy, 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 exemplary relationship between our respective entities and between the State of Qatar and the Republic of India.”
Minister Al-Kaabi further emphasized the role Qatar plays as a reliable and trustworthy energy supplier to India, highlighting the collaborative efforts with strategic end-user petrochemical players such as Haldia Petrochemicals Ltd. to meet the evolving energy demands of the region.
Speaking about the agreement, Dr. Purnendu Chatterjee, Chairman, HPL said, “We are pleased to announce this landmark strategic agreement with QatarEnergy. This will further strengthen HPL’s long-standing partnership with Qatar Energy, one of our key partners in this journey of growth. This landmark agreement resonates with HPL’s continuous 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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Fibre2Fashion News Desk (RM)