Haldia Petrochemicals Strikes Decade-Long Naphtha Deal with QatarEnergy

City-based Haldia Petrochemicals Limited has signed a strategic agreement with QatarEnergy for a 10-year supply of up to two million tons of naphtha, starting from 2024. The partnership, involving HPL Global Pte Ltd, underscores a significant commitment, bolstering India's economic expansion through reliable energy solutions.

City-based Haldia Petrochemicals Limited (HPL) has entered into a strategic agreement with QatarEnergy, securing a steady supply of naphtha for the next decade, an official confirmed on Thursday.

The contract stipulates that QatarEnergy will provide up to two million tons of naphtha to HPL over 10 years via its Singapore-based subsidiary, HPL Global Pte Limited, starting from the second quarter of 2024.

This long-term agreement, formalized by HPL Global Pte Ltd and QatarEnergy on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP), represents the most substantial commitment between the two entities to date, a company statement revealed without disclosing the deal's value.

Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs and the President and CEO of QatarEnergy, expressed satisfaction with the deal, stating it reinforces Qatar's dedication to supporting India's economic growth. He emphasized Qatar's role as a reliable energy provider to India, highlighting joint efforts with strategic petrochemical end-users like HPL to meet the region's growing energy needs.

Purnendu Chatterjee, Chairman of HPL, noted that the agreement strengthens the longstanding partnership with QatarEnergy. He added that the agreement aligns with HPL's continuous efforts in business development and strategic investment, aimed at satisfying global customer demands while maintaining high product quality.

HPL ranks among India's largest petrochemical companies, with an annual ethylene production capacity of 700,000 tons. The company uses process technologies from premier licensors to manufacture high-quality products, prioritizing safety and environmental sustainability.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)