QatarEnergy and Shell sign a landmark 25-year condensate supply agreement

QatarEnergy entered a major 25-year condensate supply agreement with Shell International Eastern Trading Company (SIETCO), a Singapore-based subsidiary of Shell plc, making it the longest and largest condensate deal in QatarEnergy’s history.

The agreement was signed in Doha by His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, alongside Shell CEO, Wael Sawan. Under the terms of the deal, QatarEnergy will supply up to 285 million barrels of condensate to Shell, starting from July 2025.

“This is QatarEnergy’s first 25-year condensate sales agreement and a significant milestone in our strategic partnership with Shell,” said Minister Al-Kaabi. “Such long-term agreements provide stability, unlock value, and reinforce our energy relationship.”

The signing builds on a strong history of collaboration between the two companies. QatarEnergy and Shell are long-standing partners in several ventures, including Qatari LNG projects, the Pearl GTL plant, and various other global investments. Earlier this year, the two firms signed a 20-year agreement for the supply of naphtha.

Sawan welcomed the new deal, noting that it strengthens an already productive and enduring partnership with QatarEnergy.

As a global leader in liquefied natural gas, QatarEnergy continues to play a vital role in the energy transition, aiming to deliver reliable and cleaner energy to meet global demand while protecting the environment for future generations.