QatarEnergy has entered into a 25-year condensate supply agreement with Shell International Eastern Trading Company (SIETCO), a subsidiary of Shell.
This deal, set to commence in July 2025, will involve the supply of up to 285 million barrels (mbbl) of condensate over its term.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and president and CEO of QatarEnergy, signed the agreement with Shell CEO Wael Sawan.
The partnership underscores the long-standing strategic relationship between the two energy companies.
The two companies have collaborated on various projects in Qatar and around the world, including QatarEnergy LNG ventures, the Pearl GTL Plant and other joint investments.
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 help deliver more value to our customer Shell.”
In December last year, QatarEnergy and Shell agreed on a long-term arrangement to supply liquefied natural gas (LNG) to China.
The deal involves the delivery of three million tonnes per annum of LNG.
Additionally, QatarEnergy has recently expanded its operations in Namibia by acquiring a 27.5% working interest in the petroleum exploration licence for offshore block 2813B through an agreement with Harmattan Energy, an indirect subsidiary of Chevron.
The block, which spans 5,433km², is located approximately 200km offshore Namibia near QatarEnergy’s Venus discovery.
