Executives of the two companies exchanging the long-term naphtha supply agreement. Credit: QatarEnergy.

QatarEnergy has signed a long-term naphtha supply deal with Marubeni Petroleum, a subsidiary of Japanese conglomerate Marubeni.

As per the agreement, starting from October 2023, QatarEnergy will supply up to 1.2 million tonnes per annum of naphtha to Marubeni for ten years.

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QatarEnergy signed the deal on behalf of Qatar Petroleum for the Sale of Petroleum Products Company.

The deal builds on a five-year naphtha sales agreement signed in 2018, which will expire in September 2023.

QatarEnergy said Marubeni is Asia’s leading petrochemical feedstock trading company and aggregator.

Since 1986, Qatar has supplied a variety of naphtha grades to Marubeni, enabling it to cater for a range of Japanese end consumers.

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Besides supply agreements, QatarEnergy and Marubeni maintain a long-standing strategic alliance through several joint projects in the Qatari energy sector, including investments in the Mesaieed and Al-Kharsaah solar power plants.

QatarEnergy president and CEO Saad Sherida Al-Kaabi said: “This agreement further enhances the long-standing, strategic and fruitful relationship between QatarEnergy and Marubeni Corporation, spanning several decades.

“We are proud of the continued cooperation with our Japanese partners such as Marubeni Corporation, which reinforces Japan’s trust in Qatar as a reliable energy provider while further fostering cooperation between the two countries.”

In July this year, QatarEnergy signed a condensate supply deal with the United Arab Emirates’s ENOC Group.

As per the deal, QatarEnergy will supply up to 120 million barrels of condensates to ENOC for ten years.

Earlier this week, QatarEnergy LNG awarded a front-end engineering design services contract to Worley, an Australian engineering company.