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Press Release

Commencement of Laffan Refinery 2 Production in Qatar

December 26, 2016
Cosmo Energy Holdings Co., Ltd.

Cosmo Energy Holdings Co., Ltd (Representative Director & CEO: Keizo Morikawa) is pleased to announce the commencement of production at Laffan Refinery Co., Ltd.2 which we have a minority share of.

The refinery is located in Ras Laffan Industrial City of Qatar and is the second condensate refinery in Qatar having a total processing capacity of 146,000 barrels per stream day (bpsd).

The condensate produced at Qatar North Field, which is the largest single non associated natural gas field in the world, will be used as feedstock for the refinery creating a higher value chain. The refinery has a newly built Diesel Hydrotreater (DHT), and the Ultra-Low Sulfur Diesel (ULSD) produced will be consumed in the expanding domestic market, which will alleviate environmental impact in Qatar.

Laffan Refinery 2 is located next to Laffan Refinery which started operation in 2009 and both refineries share some facilities such as DHT, Berth and Tank, which makes both refineries more competitive.

Cosmo has been purchasing crude oil from Qatar since the 1970's. And also, have been producing crude oil in Qatar through "Qatar Petroleum Development Co., Ltd."(Cosmo holds 75.0% shares) and "United Petroleum Development Co., Ltd." (Cosmo holds 45% shares). Through this refining business, we will strengthen our partnership with the country, and will expand our business in Qatar.

"Outline of Laffan Refinery Co., Ltd 2."
Incorporation October 2014
Location Doha, the State of Qatar
Shareholders (percent of shares) Qatar Petroleum (84%), Total S.A. (10%), Cosmo Energy Holdings Co., Ltd. (2%), Idemitsu Kosan Co., Ltd. (2%), Marubeni Corporation (1%), Mitsui & Co., Ltd. (1%)

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