Doha, Qatar – QatarEnergy Monday announced a long-term condensate supply agreement with the Dubai-based ENOC Group, a leading integrated global energy player.
The agreement was signed by QatarEnergy for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP) and ENOC Supply and Trading, a subsidiary of ENOC.
The 10-year sale agreement stipulates the supply of up to 120 million barrels of condensates to ENOC Group starting from July 2023, according to Qatar News Agency.
The terms of the agreement allow parties to further increase the condensate volumes under the contract, as additional condensate volume is expected to be exported from Qatar once the North Field East (NFE) and North Field South (NFS) expansion projects come online.
Qatar’s Minister of State for Energy Affairs and the President and CEO of QatarEnergy Saad bin Sherida Al Kaabi said that signing this long-term condensate sale agreement further strengthens QatarEnergy’s relationship with ENOC, which extends back to 2008.
“We look forward to building on the historic working relationship and the trust in Qatar’s condensate exports to help further the growth and development our partners hope to achieve,” Al Kaabi said.
Group CEO at ENOC Saif Humaid Al Falasi said the long-term agreement with QatarEnergy will contribute to strengthening the cooperation and partnership between both organizations which reiterates the commitment to offering exceptional value to customers and stakeholders.
“As a leading integrated energy player, we recognize the role we play in contributing towards UAEs continued success by collaborating with governmental entities across the globe,” he added.
