Vietnam’s Long Son Petrochemicals Company (LSP), a subsidiary of Siam Cement Public Company, has signed an agreement with Qatar Petroleum to import LPG into Vietnam. This is the first time that Qatar is supplying LPG directly to Vietnam.
In another first for Qatar Petroleum, the company is entering its first long term agreement to sell LPG and Naphtha – which involves supplies of 2 million tonnes per year of LPG and Naphtha for a term of 15 years to Vietnam.
The long-term agreement also includes the construction of a green-field petrochemical complex in Vietnam. The upcoming plant is being constructed on Long Son Island, 100km south-east of Ho Chi Minh City and it is expected to be on-stream in 2022.
With this supply deal, Qatar Petroleum is keen to expand its footprint in South East Asia’s highly lucrative market.
Find out the latest LPG trade deals at CMT’s 13th LPG Trade Summit on 23-24 October, 2018 in Istanbul, Turkey.
