QatarEnergy signed 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 & Trading LLC, a subsidiary of ENOC.

The ten-year sale agreement stipulates the supply of up to 120 million barrels of condensates to ENOC Group starting this July.

Minister of State for Energy Affairs and QatarEnergy President and CEO, HE  Saad Sherida Al-Kaabi, said they are pleased to sign the long-term condensate sale agreement, which he said 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.

ENOC Group CEO HE Saif Humaid Al Falasi, said they are honoured to sign the long-term agreement with QatarEnergy, to strengthen the cooperation and partnership between both their organisations.

As a leading integrated energy player, we recognise the role we play in contributing towards UAE’s continued success by collaborating with governmental entities across the globe.

The agreement highlights QatarEnergy’s strategy in establishing direct sales with end-users and building up strategic business relationships and cooperation.

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.

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