QatarEnergy and Shell Ink Historic 25-Year Condensate Supply Deal

QatarEnergy has signed a first time, 25 year condensate supply agreement with Shell International Eastern Trading Company (SIETCO) – a Singapore based subsidiary of Shell Plc. This landmark deal marks QatarEnergy’s longest and largest condensate deal to date, whereby QatarEnergy will commit to supplying Shell with up to 285 million barrels of condensate in total over the life of the contract beginning in July 2025.

H.E. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy and Shell CEO Wael Sawan formalized the agreement in Doha. During a signing ceremony, Minister Al-Kaabi stated, “We are pleased to sign QatarEnergy’s first 25 year condensate sales agreement which is the largest and additional 25-year duration condensate agreement to date. We are happy that we have signed this with our strategic partner Shell, with whom we recently completed a 20-year naphtha sales agreement.”

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Al-Kaabi noted that long-term agreements not only strengthen bilateral partnerships but create more stability, more predictability and more value for customers.

Shell’s CEO Wael Sawan added that they were pleased to fortify their strategic relationship with QatarEnergy. The shell-qatarEnergy deal builds on many years of productive cooperation between the two energy leaders on projects in Qatar and internationally.

QatarEnergy and Shell have collaborated on a number of successful projects, including various LNG projects, the Pearl GTL (Gas-to-Liquids) Plant and numerous other international investments. This recent condensate agreement demonstrates the strength of their partnership and commitment to supply secure energy and innovate in the energy sector.

The agreement represents Qatar’s increasing role in the advanced global energy market reaffirming Shell’s faith in the region as a safe and strategic supplier.