State-owned Qatar International Petroleum Marketing Co (Tasweeq) has offered spot and term naphtha cargoes from Pearl gas-to-liquids plant, as per Bloomberg News. This is the first time the naphtha grade has appeared on the company’s marketing tenders.
A 30,000 ton/month shipment from the Pearl facility would be equivalent to about 2-3% of naphtha demand in Asia. It may have an impact on prices, but not very much, until the completed start up of the project. Only upon a steady flow of cargoes will the market be able to assess the impact on demand.