Adnoc will provide liquefied petroleum gas to privately-owned Chinese company for a period of 10 years
Adnoc has signed a new long-term agreement for the sale of liquefied petroleum gas (LPG) with Wanhua Chemical Group of China.
Under the terms of the 10-year contract, Wanhua will purchase up to 1 million metric tonnes of LPG a-year (t/y). The financial terms of the deal was not mentioned in Adnoc’s statement.
Adnoc produces up to 10.5 million metric t/y of LPG. This is sold both locally in the UAE and internationally.
Wanhua Chemical is the world’s largest producer of methylene diphenyl diisocyanate (MDI) and the biggest TDI supplier in Europe. It operates an advanced C3/C4 petrochemical industrial chain in China, as well as high value added specialty chemical clusters.
LPG is the main feedstock for Wanhua petrochemical units, with consumption demand of up to 6 million t/y projected by 2021.
Wanhua owns the world largest LPG underground cavern storage with a total capacity of 2.4 million cubic metres, along with port facilities that have two 50,000 DWT dedicated very large gas carrier (VLGC) berths.
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