DOHA: QatarEnergy on Wednesday signed a long-term agreement to supply Shell International Eastern Trading Company with up to 285 million barrels of condensate starting from July 2025 for a period of 25 years. The agreement was signed, according to a statement by QatarEnergy, by the Minister of State for Energy Affairs, President and CEO of QatarEnergy, Eng Saad Al-Kaabi, and Shell CEO Wael Sawan.

The statement quoted Minister Al-Kaabi as expressing his pleasure at signing QatarEnergy’s first 25-year condensate sales agreement, which is the largest and longest-term condensate sales agreement to date. He added that this agreement is more important because it is with the strategic partner Shell, “with whom we recently concluded a 20-year naphtha sales agreement, which supports its efforts to deliver greater value to our customer Shell.”

Sawan expressed Shell’s pleasure at signing this long-term agreement. Building on the long-standing strategic relationship with QatarEnergy, QatarEnergy and Shell have numerous joint investments in the energy industry in Qatar and around the world, including QatarEnergy’s LNG projects, the Pearl GTL plant, and many other joint investments. Shell International Oriental Trading Company is headquartered in Singapore and is a wholly-owned subsidiary of Shell, which is listed on the London Stock Exchange. – KUNA