Qatari-based energi producer QatarEnergy has announced a long-term condensate supply agreement with Mitsui & Co. Energy Trading Singapore, a wholly owned Singapore located subsidiary of the Japanese headquartered general trading and energy conglomerate Mitsui & Co. Ltd. (Mitsui).

The agreement covers the supply of up to eleven million barrels of condensates per annum, with the shipments starting from April 2024, and running for a 10-year period.

QatarEnergy informs that the terms of this supply agreement provide options for increasing the condensate volumes, as additional condensate volume is expected to be exported from the State of Qatar once the North Field East (NFE) and North Field South (NFS) expansion projects come online.

The two companies QatarEnergy and Mitsui have a long-standing strategic partnership through several shared investments in the energy industry in Qatar.

Saad Sherida Al-Kaabi, the minister of state for energy affairs, the president and chief executive of QatarEnergy, said: “We are delighted to announce the signing of this long-term sales agreement with one of our strategic Japanese partners, solidifying our decades-long relationship with Mitsui.

“This agreement marks a significant step in advancing synergy between our companies and fostering mutual growth and value for both parties.”