Doha, October 17- Neftegaz.RU. Qatar Petroleum has announced the signing of a sale and purchase agreement to directly supply China with 600,000 metric tons of LPG per year for a period of 5 years.
The long-term agreement was signed by Qatar Petroleum and Oriental Energy (Singapore), with the contract starting in January 2019.
Saad Sherida Al-Kaabi, CEO of Qatar Petroleum, welcomed the signing, and said «This agreement reflects our marketing strategy for promoting direct engagement with end-users, especially in China. I would like to thank Oriental Energy for concluding this important agreement. We hope this deal will further enhance our energy relationship with China, as we place greater importance to meeting the needs of the world’s largest growing LPG market.»
Yan Jia Sheng, Managing Director of Oriental Energy (Singapore) International Trading, signaled similar sentiments stating, «Through this 1st step, we hope to build a strong and sustainable relationship with Qatar Petroleum and to continue exploring other areas in which 2 companies can further collaborate on.»
Oriental Energy, China’s largest LPG player, has the largest LPG distribution network and LPG storage facilities in China. In addition, it has 5 major LPG importing terminals along with several petrochemical facilities. The LPG industry continues to enjoy sustainable growth in China where LPG is used for domestic use and the growing petrochemical sector.