QatarEnergy on 26 September signed a long-term naphtha supply agreement with Japanese trading firm Marubeni. The ten-year sale agreement involves the supply of 1.2mn t/y of naphtha starting from October 2023. The agreement dovetails with the expiry of five-year agreements for 1.5mn t/y signed in 2018 (MEES, 5 October 2018).
The new arrangement covers a longer time-frame than the 2018 deal, albeit for a lower annual volume. It was signed during a visit to Japan by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and CEO of QatarEnergy where he held talks with key energy sector firms. Japan was long a major importer of LNG from Qatar. Having allowed contracts to lapse, the country’s LNG importers are now seeking to sign fresh deals after suffering in last year’s spot market volatility (MEES, 21 July). (CONTINUED - 491 WORDS)