QatarEnergy enters 10-year naphtha supply agreement with India's HPL
QatarEnergy says it has entered into an agreement to supply India’s Haldia Petrochemicals Limited (HPL) with a total of up to two million tons of naphtha to be delivered over ten years starting in the second quarter of 2024 through its Singapore-based wholly owned trading arm HPL Global Pte Ltd.
The long-term agreement represents the largest commitment undertaken between the two companies to date.
Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: "We are delighted to enter into this agreement, reaffirming our continued commitment to contributing to India’s economic growth trajectory. We take great pride in the enduring and exemplary relationship between QatarEnergy and Haldia Petrochemicals and between the Republic of India and the State of Qatar."
H.E. Minister Al-Kaabi further emphasized the role Qatar plays as a reliable and trustworthy energy supplier to India, highlighting the collaborative efforts with key Indian partners to meet the evolving demands of the region.
On his part, Dr. Purnendu Chatterjee, the Chairman of Haldia Petrochemicals, said: "We are pleased to announce this landmark strategic agreement with QatarEnergy. This will further strengthen HPL’s long-standing partnership with QatarEnergy, one of our key partners in this journey of growth. This 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."
Haldia Petrochemicals operates an integrated petrochemical complex site at Haldia, West Bengal, India with operations starting in the year 2000. It is one of India's largest petrochemical companies, utilizing naphtha as its primary feedstock.
