QatarEnergy has entered into a long-term condensate supply agreement with the Singapore-based Shell International Eastern Trading Company (SIETCO), a wholly-owned subsidiary of Shell.
The agreement, signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. Wael Sawan, the CEO of Shell, stipulates the supply of up to 285 million barrels of condensate to Shell during its 25-year term, starting from July 2025.
In comments at the signing ceremony, His Excellency Minister Al-Kaabi said: 'We are delighted to sign QatarEnergy’s first 25-year condensate sales agreement, the largest and longest duration condensate agreement to date. This agreement is important for being signed with our strategic partner, Shell, with whom we have recently signed a 20-year naphtha sales agreement. These long-term agreements provide stability and certainty, and helps deliver more value to our customer Shell.'
On his part, Mr. Sawan expressed Shell's pleasure in entering into this long-term agreement and building on the longstanding strategic relationship with QatarEnergy.
QatarEnergy and Shell share various fruitful investments and partnerships in the energy industry in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.
Source: QatarEnergy
