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.