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 London-listed Shell Plc.
The agreement, signed by His Excellency Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and 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.
Furthermore, this agreement underscores Qatar state-owned petroleum company’s commitment to expanding its global partnerships and solidifying its role as a key player in the energy sector.
QatarEnergy and Shell have maintained a robust and multifaceted partnership over the years, underscoring their shared commitment to advancing global energy solutions.
HE Saad Sherida Al-Kaabi Qatar Minister of State for Energy Affairs President & CEO – QatarEnergy
“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.”
Sawan expressed Shell’s pleasure in entering into this long-term agreement and building on the longstanding strategic relationship with the Qatari company.
QatarEnergy and Shell long-standing relationship
QatarEnergy and Shell have established a strong and productive partnership through a range of joint investments and projects both in Qatar and internationally. Their collaboration spans key initiatives such as Qatar company’s LNG developments, the Pearl GTL (Gas-to-Liquids) Plant, and several other strategic ventures across the global energy sector.
