Tasweeq in feedstock deal with Petro Vietnam unit

Qatar International Petroleum Marketing Company (Tasweeq) has signed a long- term feedstock agreement with PV GAS, a Petro Vietnam subsidiary, to supply propane and naphtha to a petrochemical complex in Long Son Island in Southern Vietnam.
Recently, Qatar Petroleum International (QPI), QP’s overseas arm, signed a joint venture agreement with Siam Cement Group and its Vietnamese partners to invest in the $4.5bn petrochemicals complex.

“HE the Minister of Energy and Industry, Dr Mohamed bin Salah al-Sada, as well Tasweeq Chairman, always encouraged Tasweeq to strengthen the business relationship with end-users and to work with QPI in promoting ventures that provide win-win projects for investors and for Tasweeq as the feedstock supplier,” Tasweeq said.

Siam Cement Group will hold a 28% stake in the petrochemical project, while TPC will have 18%, Vietnam partners (Petro Vietnam and Vinachem) 29%, and Qatari partners (QPI Vietnam) 25%.

The construction of the petrochemicals complex is expected to take to years, and will consist of a 1.4mn tonnes olefins cracker, which is highly flexible feedstock (ethane, propane, and naphtha), supporting infrastructures such as port and jetty, common utilities, and storage facilities.
Furthermore, the cracker will be fully integrated into an array of downstream products; including polyethylene, polypropylene and polyvinyl chloride (PVC) related products.

The petrochemicals complex will utilise national-of-the-art technology with health, safety and environment benchmarks of world standards. QPI Vietnam is an investment arm of QPI, which is established to make strategic commercial investments across the energy price chain around the world and is currently 100% owned by Qatar Petroleum (QP).

Potential opportunities exist in the price chain such as petrochemicals, upstream, gas and power, refineries, LNG plants and terminals, and greenfield or brownfield projects.
QPI will continue to explore, evaluate and invest in strategically viable projects around the globe and build a team of resources to execute and maintain successful investments.