State-owned Qatar Petroleum has signed a five-year deal with China’s Oriental Energy to supply 600,000 tons of liquefied petroleum gas (LPG) per year, the company announced in a press release.
The contract will start in January 2019 and was signed by Qatar Petroleum for Sale of Petroleum Products Company Ltd. (QPSPP) and Oriental Energy (Singapore).
“This agreement reflects our marketing strategy for promoting direct engagement with end-users, especially in China. I would like to thank Oriental Energy for concluding this important agreement,” Saad Sherida Al-Kaabi, president and chief executive of Qatar Petroleum, said.
“We hope this deal will further enhance our energy relationship with China, as we place greater importance to meeting the needs of the world’s largest growing LPG market,” he added.
“Through this first step, we hope to build a strong and sustainable relationship with Qatar Petroleum and to continue exploring other areas in which Qatar Petroleum and Oriental Energy can further collaborate on,” Yan Jia Sheng, vice-president of Oriental Energy Group, remarked.