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Qapco, Norgas sign pact for cargo transport |
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Tuesday, 09 February 2010 |
 The Qatar Petrochemical Company (Qapco) and Norwegian shipping company Norgas have signed a Contract Of Affreightment (COA) for the transportation of ethylene from Mesaieed to various international destinations in the year 2010.
The agreement was reached as part of visionary directions of
H E Abdulla bin Hamad Al Attiyah, Deputy Premier and Minister of Energy
and Industry who is also the Chairman of Board of Directors of Qapco.
Under the new contract, Norgas will transport 54,000MT to 65,000MT
ethylene from Qapco/Mesaieed jetty in 2010, and this quantity can
double after the startup of new Ras Laffan ethylene cracker. The
approximate value of the contract for the base volume is QR.25m.
The COA signing ceremony was attended by Qapco’s General Manager, Dr
Mohd Yousuf Al Mulla with Group Manger Commercial and Marketing,
Abdulrahman Ali Abdullah and other group managers and senior
executives.
Representing Norgas for the signing rite were Morits Skaugen, CEO and
Terje Orehagen,President and COO along with other senior officials.
Norgas has a long service history in Qatar and has been Qapco’s major
ethylene transport provider for over 16 years.
Qapco by far a leading petrochemical company in the Middle East, has
gained good reputation over the years for producing high quality
products, competitive prices and distinguished after sale customer
services.
Qapco’s main products are Ethylene, Low Density Polyethylene (LDPE) and
Sulphur. Qapco produces 410,000MT LDPE per year and marketed under the
Lotrene brand name. Majority of the production volume is exported into
more than 87 countries through Qapco’s strong logistic and sales
network supported by twenty six overseas offices and five remote
regional warehouses.
Qapco’s current ethylene production capacity reached 800,000MT per
year. Qapco consumes about 410,000MT ethylene for manufacturing LDPE
and also supplies about 220,000MT ethylene to its subsidiary Qatar
Vinyl Company (QVC) for manufacturing EDC /VCM and the balance is
exported into international markets mainly for customers in Indian
subcontinent, Asia and Europe.
Qapco will also market and sell the surplus ethylene from its
subsidiary Qatofin Company Ltd (QATOFIN) after the startup of the new
Ras Laffan Cracker (RLOC) in which Qatofin is a shareholder with QP and
Q-Chem II. RLOC’s ethylene production capacity is 1.3 Million metric
tonne per year which is expandable up to 1.6 Million metric tones.
Total ethylene export by Qapco including Qatofin’s surplus would be in
the range of 300,000 MT-350,000MT per year.
Source: The Peninsula
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