Qatar group in $4.5bn petrol deal

Qatar Petroleum International (QPI) has signed a joint venture agreement with Siam Cement Group (SCG) and its Vietnamese partners in Bangkok to invest in the petrochemicals complex in Long Son Island in southern Vietnam, valued around $4.5 billion. Qatar International Petroleum Marketing Company Ltd. (Tasweeq) and PV GAS, a subsidiary of Petro Vietnam, signed a long-term feedstock agreement to supply propane and naphtha to the petrochemical complex, according to a report of Arab News. Construction of the entire petrochemicals complex is expected to take 4-5 years, and will consist of a 1.4 million ton olefins cracker, which is highly flexible feedstock (ethane, propane, and naphtha), and supporting infrastructures such as port and jetty, common utilities, and storage facilities.