Notes to the Financial Statements PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 34 Consolidated financial statements Separate financial statements Balances with related parties At 31 December 2023 2022 2023 2022 (in million Baht) Derivatives - Current liabilities Other related parties 3 33 3 33 Total 3 33 3 33 Payables to contractors Subsidiaries - - 1,406 1,454 Associates 32 34 30 19 Other related parties 1 4 1 4 Total 33 38 1,437 1,477 Lease liabilities Parent 560 545 544 500 Subsidiaries - - 1 5 Joint ventures 14,053 13,768 12,629 9,598 Other related parties 143 207 120 153 Total 14,756 14,520 13,294 10,256 Short-term loans from Subsidiaries - - 1,580 2,154 Total - - 1,580 2,154 Long-term loans from Subsidiaries - - 74,266 90,676 Total - - 74,266 90,676 Less current portion - - - - - - 74,266 90,676 Significant agreements with related parties As at 31 December 2023, significant agreements with related parties are as follows: Sales and Purchase Agreements The Company has 3 Ethylene sales and purchase agreements with 2 related parties. Selling prices are determined based on Ethylene price in the world market. Two agreements are for the period of 10 years and 15 years commencing from the effective date specified in each agreement and expiring in December 2031 and December 2037 and one agreement is for the period of 10 years, starting from the plant commercial operation date. The Company has 3 Propylene sales and purchase agreements with a related party. Selling prices are determined based on Polypropylene plastic pellets and Propylene prices in the world market. These 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 2037. 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, starting from the plant commercial operation date and will expire in January 2038. 278
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