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First Pearl Gas to Liquids Product Off-take Agreements Signed

Source: 11/4/2008, Location: Middle East

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Qatar Petroleum (QP) and Qatar Shell GTL Limited (Shell) have signed two separate heads of agreements with Gulf Petroproducts Company EC (GPC) and Tamilnadu Petroproducts Limited (TPL) regarding supply of Gas to Liquids (GTL) Normal Paraffin from the Pearl GTL project in Qatar. These are the first agreements that refer to third party product off-take from the Pearl GTL project and represent an important milestone.

The combined volume of the two heads of agreements totals over a quarter of Pearl GTLís normal paraffin production and is destined for GPCís proposed linear alkylbenzene (LAB) plant in Yanbu, Saudi Arabia and TPLís existing plant in Chennai, India.

Shell and QP are negotiating with other parties concerning the remainder of the normal paraffin volume.

Abdulla H Salatt, Senior Advisor to His Excellency the Deputy Premier and the Minister of Energy & Industry, stated, "GTL represents a strategic diversification for Qatar in the development of our natural gas resources and these agreements are the first results from what we believe is a strong and focused global marketing campaign for Pearl GTLís products. With GTL Normal Paraffin, Pearl GTL brings to the marketplace a high performance speciality product that will find its way into the growing detergents industry. Working with Shell, we feel confident we will be able to effectively allocate Pearl GTLís valuable slate of unique GTL products within target markets around the world."

Andy Brown, Managing Director of Pearl GTL commented, "These heads of agreements are an example of the trust that other industries have in our project, our technology and our products. Pearl GTL will offer the global marketplace a diverse slate of high quality GTL fuels and products, and GTL Normal Paraffin, we believe, will be the future feedstock of choice for the LAB industry.

"Gulf Petroproducts is proud to be one of the first companies associated with product off-take from the Pearl GTL project. This agreement will provide our proposed LAB plant with a cost effective and reliable feedstock," added James L Greenberg, Vice Chairman and Managing Director of Gulf Petroproducts Company EC.

RM Muthukaruppan, Managing Director of Tamilnadu Petroproducts stated, "This agreement with Pearl GTL is another next step in our companyís ambition to become the leading LAB producer in the region".

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