Haldia Petrochemicals Secures 10-Year Naphtha Supply Agreement with QatarEnergy
Haldia Petrochemicals Limited (HPL) has inked a significant 10-year agreement with QatarEnergy, securing a robust supply of naphtha, a key feedstock for their operations. Under this deal, QatarEnergy, through its subsidiary HPL Global Pte Limited based in Singapore, will supply up to 2 million tons of naphtha to HPL over the next decade, starting from the second quarter of 2024.
The agreement underscores HPL’s strategic initiative to bolster its operational stability and support India’s economic growth. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and CEO of QatarEnergy, highlighted the enduring partnership between Qatar and India, underscoring Qatar’s commitment as a dependable energy provider to India.
Executed by HPL Global Pte Ltd. and QatarEnergy on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP), the agreement marks the largest commitment between the two entities to date. Dr. Purnendu Chatterjee, Chairman of HPL, expressed confidence that this partnership would strengthen their longstanding relationship with QatarEnergy, a pivotal ally in their growth journey.
Dr. Chatterjee emphasized that the deal aligns with HPL’s strategic goals of enhancing business development and making strategic investments to meet the demands of their global customer base. This agreement is anticipated to significantly contribute to HPL’s operational continuity and further solidify their position in the global petrochemical market.
Both parties have expressed optimism regarding the mutual benefits derived from this long-term collaboration, which is poised to foster sustainable growth and reinforce bilateral ties between Qatar and India in the energy sector.