LSP signed a deal to purchase up to 2 million tons per year of LPG and Naphtha for a period of 15 years from Qatar Petroleum, the world’s largest LNG producer.
The long-term agreement was signed by Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP) and Long Son Petrochemicals Company Limited (LSP), a subsidiary of The Siam Cement Public Company Limited.
Qatar Petroleum acts as the marketing agent for QPSPP.
The agreement will commence with the start of Vietnam’s first green-field petrochemical complex, which is being constructed on Long Son Island, 100 km southeast of Ho Chi Minh City. The large facility is expected to begin production in 2023.
The LSP Project will have a million tons per year ethylene cracker with flexible gas and naphtha feed to yield in total olefins production capacity of up to 1.6 million tons per year depending on the feedstock mix.