Qatar Petroleum (QP) has signed a ten-year agreement to supply 800,000 metric tonnes of Liquefied Petroleum Gas (LPG) annually to China's Wanhua Chemical Group, the company announced yesterday.
The company said that the agreement will go into effect starting January 2020 and last ten years.
Saad Sherida Al-Kaabi, Qatari energy minister and QP's CEO, pointed out that the deal was reinforcing the company's "international strategic partnerships", explaining that the LPG market in China was "steadily growing" and that it was continuing to be an "important destination for Qatari energy exports".
"We look forward to strengthening our position in the Chinese energy market," Al-Kaabi added.
Wanhua is one of the world's largest producers of polyurethane and is also one of the largest LPG importers and consumers across China. The company was recently reported to have become one of the most important players in the global LPG industry.