Qatar Petroleum Signs LNG Supply Agreement with China's Oriental Energy

Doha, October 16 (QNA) - Qatar Petroleum (QP) has announced the signing of an agreement to directly supply China's Oriental Energy with 600,000 metric tons of liquefied petroleum gas (LPG) per year for a period of five years. Theagreement was signed by Qatar Petroleum for Sale of Petroleum Products Company Ltd. (QPSPP) and Oriental Energy (Singapore), a subsidiary of Oriental Energy, with the contract starting in January 2019. In a statement issued Tuesday, Qatar Petroleum President and Chief Executive Saad bin Sherida Al Kaabi welcomed the signing and said "This agreement reflects our marketing strategy for promoting direct engagement with end-users, especially in China." He also thanked Oriental Energy for concluding this important agreement, expressing hope that this deal will further enhance QP's energy relationship with China, as it place greater importance to meeting the needs of the world's largest growing LPG market. For his part, Vice-President of Oriental Energy Group and Managing Director of Oriental Energy (Singapore) Yan Jia Sheng signaled similar sentiments stating, "Through this first step, we hope to build a strong and sustainable relationship with Qatar Petroleum and to continue exploring other areas in which Qatar Petroleum and Oriental Energy can further collaborate on." Oriental Energy, China's largest LPG player, has the largest LPG distribution network and LPG storage facilities in China. In addition, it has five major LPG importing terminals along with several petrochemical facilities. The LPG industry continues to enjoy sustainable growth in China where LPG is used for domestic use and the growing petrochemical sector. (QNA)