Marubeni: Commencement of Laffan refinery 2 production in Qatar

Laffan Refinery Co., Ltd. 2 (“LR2”), in which Marubeni Corporation (“Marubeni”), Qatar Petroleum, Total S.A., Idemitsu Kosan Co., Ltd., Cosmo Energy Holdings Co., Ltd., and Mitsui & Co., Ltd. participate as shareholders, has commenced production in its LR2 condensate refinery, which was built in Ras Laffan Industrial City in Qatar.

The LR2 condensate refinery has a total processing capacity of 146,000 barrels per stream day (bpsd). The refinery produces petroleum products such as Naphtha, Jet-A1, Ultra low Sulfur Diesel (ULSD), and LPG by refining the condensate from the North Field in Qatar, which is the largest single natural gas field in the world.

The LR2 condensate refinery is located next to the condensate refinery of Laffan Refinery Co., Ltd. (“LR1”), which started production in 2009 with a processing capacity of 146,000 bspd. Synergies are expected between LR1 and LR2 as both projects share certain facilities with each other. The gasoil from the LR2 refinery will be treated by a diesel hydro treater to produce ultra-low sulfur gasoil which has less environmental impact and will be sold in the domestic market.

Marubeni has also been participating in other businesses in the State of Qatar, including investments in LNG, and oil and gas projects as well as in power plants and infrastructure projects. Through the Laffan Refinery 2 Project, we have a strong intention to expand the scope of our energy business and reinforce our strong long-standing relationship with the state of Qatar and Qatar Petroleum.