QatarEnergy has signed a long-term condensate supply agreement with Shell International Eastern Trading Company (SIETCO), a wholly owned subsidiary of Shell Plc, headquartered in London. The agreement marks a major step in strengthening the strategic partnership between the two global energy companies.

The deal was formalized by Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and the president and CEO of QatarEnergy, along with Shell CEO Wael Sawan. Under the terms of the agreement, QatarEnergy will supply up to 285 million barrels of condensate to Shell over a 25-year period, starting in July 2025.

At the signing ceremony, Al-Kaabi emphasized the significance of the agreement. “We are delighted to sign QatarEnergy’s first 25-year condensate sales agreement, which is also the largest and longest of its kind to date,” he said. “This agreement holds particular importance as it is signed with our strategic partner, Shell, with whom we have recently concluded a 20-year naphtha sales agreement.”

Al-Kaabi highlighted the value of long-term agreements, noting that they provide certainty and help create sustained value for customers. “These long-term agreements offer stability and predictability, and help deliver more value to our customer Shell,” he added.

Sawan echoed the sentiment, expressing Shell’s satisfaction in advancing its long-standing partnership with QatarEnergy. “We are pleased to enter into this long-term agreement and build further on the strategic relationship between Shell and QatarEnergy,” he said.

QatarEnergy and Shell have a history of collaboration in major energy projects both in Qatar and around the world. Their joint ventures include participation in QatarEnergy’s liquefied natural gas (LNG) projects, the Pearl Gas-to-Liquids (GTL) plant, and several other global investments.

The agreement is expected to reinforce QatarEnergy’s position as a key player in the global condensate market and reflects both companies’ commitment to securing reliable and sustainable energy supply chains.

QatarEnergy continues to expand its portfolio through such long-term supply commitments, aligning with its strategic goals of strengthening energy security and deepening partnerships with leading international energy firms.

Shell, one of the world's largest energy companies, remains a major player in oil, gas and low-carbon energy sectors. The new agreement underlines Shell’s ongoing interest in securing diversified and long-term supply sources to support its global trading and operations.

The 25-year contract not only underscores the mutual trust between QatarEnergy and Shell but also reflects a shared vision of long-term cooperation in the evolving global energy landscape.

A condensate supply agreement is a formal contract between a supplier, such as QatarEnergy, and a purchaser, such as Shell, that defines the terms under which condensate—a liquid hydrocarbon—is delivered over a set period, often spanning several years. The agreement typically outlines key elements including the volume to be supplied, pricing structure, delivery schedule, and other essential conditions governing the transaction.