Tasweeq and Astomos Sign New LPG Contract

Source: www.gulfoilandgas.com 2/10/2015, Location: Middle East

Qatar International Petroleum Marketing Company Ltd. (Tasweeq) Q.J.S.C has entered into another year of term contract with Astomos Energy Corporation (Astomos) for the sale and purchase of Qatar’s Liquefied Petroleum Gas (LPG). This would to be the 8th LPG term deal between the two companies.

The Agreement was signed by Mr. Saad A. Al-Kuwari, Tasweeq’ CEO and Mr. Osamu Masuda, Astomos President, in the presence of senior representatives from both companies in London on the 10th of February, 2015; which is in parallel to the International Petroleum Week held in London (Feb 10-12).

Speaking at this signing ceremony, Mr. Al-Kuwari said, “We highly value this agreement and we are committed to strengthening our customer partnership. We consider this deal as a valuable milestone of the already strong and mutually-beneficial relationship between Tasweeq and Astomos. We owe this success to the continuous support of Tasweeq’s board of directors, chaired by His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy & Industry of the state of Qatar.”

LPG is an important utility in Japan. It is considered as the backbone of Japan's energy supply, and is used by more than half of approximately 50 million households. LPG is positioned in Japan's Basic Energy Plan as a form of energy whose demand should be increased into the future.

Tasweeq also hosted its fifth consecutive dinner reception for its global customers on the 10th of February at the prestigious Grosvenor House, A JW Marriott Hotel on Park Lane. The reception is a commemoration of Tasweeq’s valued customers and their trust and confidence in Tasweeq as their supplier of choice from the Middle East.

In his welcoming speech, Mr. Al-Kuwari presented the guests with updates on Tasweeq’s operational achievement. Since inception to 2014, Tasweeq flawlessly sold and exported around 255 million tons of Regulated Products. For Non-Regulated Products (or crude), Tasweeq marketed and sold 870 million barrels since 2010.

Tasweeq operates in the best interest of the Producing Entities, stakeholders and the State of Qatar. Proper communication, flexibility and teamwork are fundamental to Tasweeq’s success story. Tasweeq enjoys a sound reputation as a reliable and dependable exporter from Qatar, supplying some of the largest quantities of LPG, different grades of naphtha, condensates, and many other petroleum products. Security of supply and operational flexibility are indeed Tasweeq’s key strengths.

The reception was attended by top executives of international energy corporations and media. HE Mr. Yousef Ali Al-Khater, Qatar Ambassador to UK was among the attendees along with attachés and members of the Qatar Embassy. Tasweeq delegation included Mr. Sultan Al-Binali (Executive Director - QP Marketing), Mr. Abdulla Al-Abdulmalek (Executive Director – Administration), Mr. Anton Bray (Executive Director - Marketing & Shipping) and senior managers of Marketing & Shipping, QP Marketing, Planning and Public Relations directorates.

For more information about related Opportunities and Key Players visit Qatar Oil and Gas Projects


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