Qatar signs 10-year naphtha supply contract with Thai's SCG Chemicals

  • 2 years   ago
Qatar Petroleum for the Sale of Petroleum Products, or QPSPP, said Sunday it marked an agreement to supply 3 million tons of light naptha more than 10 years to Thailand's SCG Chemicals, beginning this month. 
QPSPP has the choice to offer the light naphtha in a few evaluations from Ras Laffan, under the agreement, and the primary payload still can't seem to be orchestrated, a source acquainted with the issue said Monday. 
QPSPP has been extending in the Far East, inking long haul bargains over its typical quarterly naphtha tenders. 
The agreement with SCG Chemicals is the fourth supply contract QPSPP has had with an Asian purchaser since late 2018. QPSPP has three 5-year contracts with Japan's Marubeni Corp. In two of the agreements, QPSPP will supply a sum of 1.2 million mt/year of naphtha between October 2018 and September 2023. For the third contract, QPSPP will supply 200,000 mt/year of light naphtha from January 2019. 
The Middle Eastern provider has sold somewhere around 327,500 mt of spot naphtha so far for April lifting, set to be the most noteworthy month to month aggregate since October, as indicated by S&P Global Platts information.