The Sonatrach group has announced the signing of a forward contract for the supply of liquefied petroleum gas (LPG) with the Chinese group Wanhua Chemical, one of the largest producers of polyurethane in the world and one of the largest users. and LPG importers in China.
The national hydrocarbon company Sonatrach and the Chinese company Wanhua Chemical signed today May 16, 2023 a forward contract for the supply of LPG to the Wanhua petrochemical complex in China. Wanhua Chemical Group Co., Ltd.
The contract in question concerns a regular supply of the Asian market with Algerian LPG, “thus marking a significant turning point for Algerian LPG exports, also allowing the introduction of the Algerian LPG price benchmark on the largest regional market in the world. “ Says the national energy group. Through the agreement signed in Algiers, “the two companies thus confirm their desire to establish a lasting and fruitful commercial relationship in the field of LPG in particular and petrochemicals in general” , concludes the press release.
Wanhua Chemical Group Co., Ltd. is one of the world’s leading suppliers of chemical products. The company says it is committed to becoming a leading company in the chemicals and new materials industry.
The company owns and operates a state-of-the-art LPG receiving and storage terminal at its Yantai port, and uses significant volumes of LPG in its fully integrated petrochemical complex, which includes the largest isomerization operations in PDH and butane in the world. Overall, Wanhua Chemical Group Co., Ltd. specializes in the development, manufacture and marketing of chemical products.
Sales by product family break down as follows: polyurethane (47.6%); petrochemicals (32%); fine chemicals and special chemicals (11%); others (9.4%). 50.3% of turnover is made in China.
