(MENAFN- The Peninsula) Qatar International Petroleum Marketing Company Ltd (Tasweeq) 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.
Astomos is the largest LPG-specialised player in the world and has 25 percent domestic market shae in Japan. The agreement was signed by Saad A Al Kuwari, Tasweeq's CEO, and Osamu Masuda, Astomos President, in the presence of senior representatives from both companies in London on February 10, 2015.
Speaking at the signing ceremony, 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 H E Dr Mohammed bin Saleh Al Sada, Minister of Energy and 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 at the 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, Al Kuwari presented the guests with updates on Tasweeq's operational achievement. Since inception to 2014, Tasweeq sold and exported around 255 million tonnes 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. Yousef Ali Al Khater, Qatar Ambassador to UK, was among the attendees along with attachés and members of the Qatar Embassy. Tasweeq delegation included Sultan Al Binali (Executive Director - QP Marketing), Abdulla Al Abdulmalek (Executive Director € Administration), Anton Bray (Executive Director - Marketing & Shipping) and senior managers of Marketing & Shipping, QP Marketing, Planning and Public Relations directorates.
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