QatarEnergy has entered into a significant long-term condensate supply agreement with Shell International Eastern Trading Company (SIETCO), a subsidiary of Shell Plc. The deal, which spans 25 years, was formalized by Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, alongside Wael Sawan, CEO of Shell. Under the terms of the agreement, QatarEnergy will supply up to 285 million barrels of condensate to Shell starting in July 2025.
Minister Al-Kaabi remarked at the signing ceremony: “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.”
Wael Sawan also expressed satisfaction with this new chapter in their partnership with QatarEnergy. Both companies have shared numerous investments in the energy sector both within Qatar and internationally. Notable collaborations include involvement in QatarEnergy LNG projects and the Pearl GTL Plant.
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