QP concludes two 5-year naphtha sale deals with Marubeni

Qatar Petroleum has concluded two 5-year sales agreements to supply Japan’s Marubeni Corporation an annual total of 1.2mn tonnes of naphtha starting from this month. 
The deals have been made “for and on behalf” of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), QP said Wednesday.
The agreements are the largest and longest to be concluded with Marubeni Corporation since both parties started their naphtha business together over three decades ago. 
QP president and CEO Saad Sherida al-Kaabi said, “This contract will further enhance the strategic partnership and relationship between Qatar Petroleum and Marubeni Corporation. Both our entities have been working together for decades and have enjoyed a fruitful partnership.”
Al-Kaabi said, “The State of Qatar is a trusted supplier of energy to Japan, and through co-operation with partners like Marubeni Corporation, we can help meet Japan’s growing need for energy products.”
Marubeni Corporation president and CEO and member of the company’s board of directors, Fumiya Kokubu reiterated the sentiment saying, “This long-term contract with Qatar Petroleum will not only respond to the growing petrochemical feedstock demand in Japan and Asia, but is also “win-win” business model for the both of us. This deal validates Qatar Petroleum and Marubeni Corporation as strategic partners who continue to add value to their existing investments in LNG, refineries and power plants.” 
QP and Marubeni have a long-standing strategic partnership through several shared investments in the energy industry. 
This includes Qatargas 1, which produces and exports about 10mn tonnes of LNG per annum, and the two Ras Laffan-based condensate refineries, Laffan Refinery 1 and 2, which have a combined daily processing capacity of 292,000 barrels. 
In addition, Marubeni and QP are investors in the Qatar-based 2,000MW Mesaieed Independent Power Plant, Mesaieed Power Company Ltd (MPCL).
Marubeni is the largest petrochemical feedstock trading entity and aggregator in Asia. It has received continuous and stable supplies of various grades of naphtha from Qatar since 1986, which has enabled Marubeni to reliably supply a variety of end users in Japan.