Qatar Petroleum International and Shell Eastern Petroleum (Pte) Ltd (Shell) today signed a series of agreements which will see Qatar Petroleum International take a stake in two Shell Chemicals joint ventures in Singapore. The agreements mark the first downstream acquisition by Qatar Petroleum International abroad.

The agreements were signed by His Excellency Abdulla bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry, and Mr. Peter Voser, Chief Executive Officer of Royal Dutch Shell plc. The signing was witnessed by Mr. S. Iswaran, Singapore Senior Minister of State for Trade & Industry, as well as Mr. Nasser Al-Jaidah, Chief Executive Officer of Qatar Petroleum International and Mr. Ben van Beurden, Executive Vice President Shell Chemicals.

Mr. Al-Jaidah said: “Today’s agreements are a milestone for Qatar Petroleum International as we expand our business globally. Singapore is a key petrochemicals hub and securing a position here has been a key strategic objective. I look forward to working with Shell to make these investments a big success for years to come.”

Mr Voser said: “I warmly welcome Qatar Petroleum International as a partner in our chemicals operations in Singapore. I am proud that Qatar has chosen Shell as a partner in projects within the State of Qatar and I am delighted that Qatar has now chosen to extend this relationship abroad. I hope we can progress further such opportunities in the years ahead.”