Doha-based QatarEnergy sealed a 25-year condensate supply deal with the Singapore-based Shell International Eastern Trading Company (SIETCO), a subsidiary of London-listed Shell Plc.
The deal, set to commence in July 2025, will involve the supply of up to 285 million barrels of condensate to Shell during its 25-year term.
Saad Sherida Al-Kaabi, the minister of State for Energy Affairs, the president and CEO of QatarEnergy, signed the agreement with the CEO of Shell, Wael Sawan.
The two companies have collaborated on various projects in Qatar and around the world, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.
In comments at the signing ceremony, the 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.”
