Haldia Petrochemicals Limited announces 10-year naphtha supply agreement with QatarEnergy

economictimes.indiatimes.com:

Haldia Petrochemicals Limited (HPL) on Thursday announced an agreement with QatarEnergy to secure long-term naphtha supply.

QatarEnergy will supply a total of up to 2 million tons of naphtha to HPL through its 100% subsidiary, HPL Global Pte Limited, Singapore over the next ten years. The deal will come into effect from the second quarter of 2024, HPL said in a press release.

“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,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President, and CEO of QatarEnergy.

Al-Kaabi further emphasised the role Qatar plays as a reliable and trustworthy energy supplier to India.

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).

This is the largest commitment undertaken between the two companies.


Speaking about the agreement, Dr. Purnendu Chatterjee, Chairman, HPL said, “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.”