Haldia Petrochemicals Signs 10-Year Naphtha Supply Deal with QatarEnergy

Haldia Petrochemicals (HPL) has entered into a landmark agreement with QatarEnergy for the long-term supply of naphtha, a crucial feedstock for petrochemical production. Announced on Thursday, the agreement entails QatarEnergy supplying up to two million tonnes (MT) of naphtha to HPL through its subsidiary, HPL Global Singapore, over the next decade, beginning in the second quarter of 2024.

The agreement, executed by HPL Global and QatarEnergy on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), represents the largest commitment to date between the two companies.

QatarEnergy President and CEO expressed satisfaction with the agreement, highlighting its significance in reaffirming QatarEnergy's commitment to supporting India's economic growth. He emphasized the importance of the longstanding relationship between Qatar and India and noted that Qatar's role as a reliable energy supplier underscores collaborative efforts with strategic partners like HPL to meet the region's evolving energy demands.

HPL Chairman Purnendu Chatterjee hailed the agreement as a landmark achievement that strengthens the enduring partnership between HPL and QatarEnergy. He stated that the deal aligns with HPL's strategy for business development and strategic investments, ensuring the company continues to meet global customer demands with the high-quality products it is known for.

HBL