Baku, Azerbaijan, April 30. QatarEnergy has
entered into a long-term condensate supply agreement with Shell
International Eastern Trading Company (SIETCO), a subsidiary of
Shell Plc, Trend
reports.
The agreement, which was signed by QatarEnergy’s Minister of
State for Energy Affairs and President & CEO, His Excellency Mr.
Saad Sherida Al-Kaabi, and Shell CEO Mr. Wael Sawan, outlines the
supply of up to 285 million barrels of condensate to Shell over a
25-year period, beginning in July 2025.
In his remarks at the signing ceremony, Minister Al-Kaabi
highlighted the significance of the agreement, noting that it
represents QatarEnergy’s first 25-year condensate sales deal,
making it the largest and longest of its kind to date. He
emphasized the strategic importance of the deal, stating that it
strengthens QatarEnergy’s relationship with Shell, a partner in
various energy projects.
The two companies have previously signed a 20-year naphtha sales
agreement, and Minister Al-Kaabi reiterated that these long-term
agreements provide stability and contribute to creating more value
for Shell.
Shell’s Mr. Sawan also expressed satisfaction with the
agreement, noting the importance of their enduring strategic
partnership with QatarEnergy. The two companies have a history of
successful collaborations in energy projects, including joint
investments in QatarEnergy’s LNG projects and the Pearl GTL Plant,
among others.