QatarEnergy has entered a 20-year naphtha supply agreement with UK oil and gas major Shell’s Singapore-based unit Shell International Eastern Trading Company.
The agreement, set to commence in April 2025, will see up to 18mt of naphtha delivered to Shell over the duration of the contract.
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The partnership between QatarEnergy and Shell is well-established, with a history of shared investments in various energy projects, both in Qatar and internationally.
These include QatarEnergy’s LNG ventures, the Pearl GTL Plant and a range of other joint investments.
QatarEnergy president and CEO Saad Sherida Al-Kaabi said: “We are delighted to sign QatarEnergy’s first 20-year naphtha sales agreement, the largest and longest to date. This is our second such agreement with Shell since 2019 and builds on our strategy of stronger relations with established end-users and partners.”
Shell CEO Wael Sawan said: “We are honoured to enter into this long-term agreement with our esteemed partner, QatarEnergy.
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By GlobalData“This deal will support Shell as we deliver more value for our customers worldwide. Today’s signing marks another significant milestone in our long-established partnership.”
QatarEnergy signed a five-year crude oil supply agreement with Shell in December 2023.
The deal will ensure the annual delivery of up to 18 million barrels of Qatar Land and Qatar Marine crude oils to Shell.
Additionally, in October 2023, the company inked a long-term liquefied natural gas (LNG) supply agreement with Shell in the Netherlands.
Starting in 2026, QatarEnergy is set to supply up to 3.5mt a year of LNG to the Gate LNG terminal in the Port of Rotterdam for 27 years.
In June, the company finalised a long-term agreement with CPC of Taiwan, which included the supply of LNG and a partnership in the North Field East expansion project.
