PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED AND SUBSIDIARIES FOR THE YEAR ENDED DECEMBER 31, 2021 NOTES TO THE FINANCIAL STATEMENTS - 82 - Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Long-term borrowing Subsidiary As at January 1, - - 14,948 14,991 Increase - - 48,440 - Effect of change in exchange rate - - 4,924 (61) - - 68,312 14,930 Amortise deferred financing cost - - (270) 18 As at December 31, - - 68,042 14,948 Other related parties As at January 1, - - - - Increase 55,600 - 55,600 - As at December 31, 55,600 - 55,600 - Total As at January 1, - - 14,948 14,991 Increase 55,600 - 104,040 - Effect of change in exchange rate - - 4,924 (61) 55,600 - 123,912 14,930 Amortise deferred financing cost - - (270) 18 As at December 31, 55,600 - 123,642 14,948 Significant agreements with related parties The Group has significant agreements with related parties as at December 31, 2021 as follows: Olefins Sales and Purchase Agreements The Company has 5 Ethylene sales and purchase agreements with 3 related parties. Selling prices are determined based on Ethylene price in the world market. Three agreements are for the periods from 10 years to 21 years, commencing from the effective date specified in each agreement and expiring from May 2022 to December 2031 and two agreements are for the period of 10 years and 15 years, start from the plant commercial operation date. The Company has 5 Propylene sales and purchase agreements with 3 related parties. Selling prices are determined based on Polypropylene plastic pellets and Propylene prices in the world market. Four agreements are for the periods from 4 years to 15 years, commencing from the effective date specified in each agreement and expiring from December 2024 to December 2035 and another agreement is for the period of 15 years, start from the plant commercial operation date. The Company has a Butadiene sales and purchase agreement with a related party. Selling prices are determined based on Butadiene price in the world market. The agreement is for the period of 15 years, start from the plant commercial operation date. The Company has a Raffinate sales and purchase agreement with a related party. The sales and purchase prices are based on Naphtha price in the world market. The agreement is for the period of 15 years, start from the plant commercial operation date. By-Product Sales and Purchase Agreements The Company has Hydrogen sales and purchase agreements with 3 related parties. Selling price in the agreements are determined based on Natural Gas price for the industry. These agreements are for the periods from 9 years 9 months to 15 years, commencing from the date as specified in each agreement and expiring from March 2024 to December 2035. 314 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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