Under the agreement, Qatar Petroleum will supply two million tonnes per year of LPG and Naphtha for a term of 15 years to Vietnam.
“It is the first time that Qatar is selling LPG and Naphtha on long-term basis, as well as the first time that we are selling directly to Vietnam.”
Signed between QPSPP and The Siam Cement Public Company’s subsidiary Long Son Petrochemicals Company (LSP), the long-term agreement will also see the development of a green-field petrochemical complex in Vietnam that is being constructed on Long Son Island, 100km south-east of Ho Chi Minh City.
The facility will be brought on-stream in 2022. Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “This agreement has a significant importance as it is the first time that Qatar is selling LPG and Naphtha on long-term basis, as well as the first time that we are selling directly to Vietnam.
“This is an important project for Vietnam and the new agreement reflects the trust of the markets and customers in Qatar Petroleum as a reliable supplier.”
The company expects that the supply deal will enable the expansion of its footprint into the growing markets of South East Asia.