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Haldia Petrochemicals Seals 10 Year-Long Naphtha Deal with QatarEnergy
Haldia Petrochemicals Seals 10 Year-Long Naphtha Deal with QatarEnergy

Haldia Petrochemicals Seals 10 Year-Long Naphtha Deal with QatarEnergy

  • 14-Jun-2024 1:31 PM
  • Journalist: Jacob Kutchner

Haldia Petrochemicals Limited (HPL), one of the leading players of India in the Petrochemical market, has revealed a strategic partnership with QatarEnergy to secure a long-term naphtha supply. Per the agreement, QatarEnergy will deliver up to two million tons of naphtha to HPL, via its wholly-owned subsidiary, HPL Global Pte Limited, Singapore, over a ten-year period commencing in the Second Quarter of 2024.

In a landmark deal, HPL Global Pte Ltd. (Singapore arm of Haldia Petrochemicals) and QatarEnergy (representing Qatar Petroleum for the Sale of Petroleum Products Company Ltd.) signed a long-term agreement. This agreement signifies the most significant collaboration between the two companies yet. This strategic partnership secures the supply of up to two million tons of naphtha over the next decade, starting from the second quarter of 2024. The deal underscores a significant collaboration aimed at ensuring a stable and reliable supply of naphtha, crucial for HPL's operations, thereby strengthening both companies' positions in the global petrochemical market.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, expressed satisfaction with the agreement, emphasizing his delight in signing it and reiterating their unwavering dedication to bolstering India's economic advancement. He emphasized their pride in the longstanding exemplary relationship between their respective entities, as well as between the State of Qatar and the Republic of India. Minister Al-Kaabi further underscored Qatar's position as a dependable and trusted energy supplier to India. He highlighted the collaborative efforts with key strategic partners like Haldia Petrochemicals Ltd. to address the changing energy needs of the region's petrochemical sector.

Dr. Purnendu Chatterjee, Chairman of HPL, stated that they are pleased to announce this landmark strategic agreement with QatarEnergy, which will further solidify HPL's longstanding partnership with one of their key growth partners. He noted that this significant agreement aligns with HPL's ongoing efforts in business development and strategic investment to meet the demands of their global customers, while maintaining the high quality of products.

Haldia Petrochemicals Ltd is a well-known naphtha-based petrochemical complex situated near Kolkata in Haldia, West Bengal, India. As a customer-centric organization, HPL is renowned for its commitment to delivering high-quality products and services. The complex produces a wide range of polymers and chemicals that serve various industries, including packaging, agriculture, automotive, and healthcare. HPL's strategic focus on innovation, sustainability, and partnerships ensures its position as a leading supplier in the petrochemical sector, consistently meeting the evolving needs of its global customer base.

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