QP moves to support petrochemical firms. Qatar Petroleum (QP) recently signed agreements to supply additional quantities of ethane, which is used as feedstock, to a number of subsidiaries of Industries Qatar (IQ) and Mesaieed Petrochemical Holding Company (MPHC).
The agreements for additional ethane volumes were signed with each of Qatar Petrochemicals Company (Qapco), Q-Chem 1, Q-Chem 2, and Qatofin. The new agreements are designed to enable these companies to reach the maximum capacity of their respective facilities, thus raising their efficiency and improving profitability.
QP president and CEO Saad Sherida al-Kaabi said, “This important step was driven by Qatar Petroleum’s keenness to maximise benefit from our natural resources, especially in the vital petrochemical sector. It also comes in support of Qatar’s national industry and the important role it plays in boosting the growth and development of our national economy.”
The total additional ethane volumes that will be supplied to the four companies will be approximately 1,000 metric tonnes per day, which equates to an increase of approximately 10% compared to the base quantities.