Qatar Petroleum Signs 5-Year Contract On Annual Delivery Of 600,000 Tonnes Of LPG To China

Qatar Petroleum (QP) state-owned company, operating all the oil and gas projects in the country, and Singaporean subsidiary of the Chinese Oriental Energy Group have signed a five-year-long contract on annual deliveries of 600,000 tonnes of liquefied petroleum gas (LPG) to China, QP said in a statement on Tuesday.

DOHA (UrduPoint News / Sputnik - 16th October, 2018) Qatar Petroleum (QP) state-owned company, operating all the oil and gas projects in the country, and Singaporean subsidiary of the Chinese Oriental Energy Group have signed a five-year-long contract on annual deliveries of 600,000 tonnes of liquefied petroleum gas (LPG) to China, QP said in a statement on Tuesday.

The contract will start operating in January 2019.

"This agreement reflects our marketing strategy for promoting direct engagement with end-users, especially in China. I would like to thank Oriental Energy for concluding this important agreement. We hope this deal will further enhance our energy relationship with China, as we place greater importance to meeting the needs of the world's largest growing LPG market," QP CEO Saad Sherida Kaabi said, as quoted in the statement.

Yan Jia Sheng, vice-president of the Oriental Energy Group, voiced his hope for establishing "strong and sustainable" relations with QP and finding new areas for cooperation.

Oriental Energy is the largest Chinese LPG market player, while its Singaporean subsidiary is in charge of trading and logistics-related activities.

On September 10, Qatargas Operating Company signed a contract with the Chinese oil and gas company PetroChina on deliveries of around 3.4 million tonnes of liquefied natural gas (LNG) to China annually.

Qatar exported 81 million tonnes of LNG in 2017, which made it world's largest LNG exporter, while it also exported $29.1 billion-worth of petroleum gas the same year.