QatarEnergy has signed a 25-year contract with Shell to supply up to 285 million barrels of condensate, setting a new precedent in hydrocarbon deals.
From July 2025, Shell International Eastern Trading Company (SIETCO), a subsidiary of the British multinational Shell based in Singapore, will receive Qatari condensate under an agreement that provides for continuous deliveries for 25 years. This contract is the first of its kind in QatarEnergy’s history with such duration and volume.
During the signing, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and CEO of QatarEnergy, stressed that this commitment offers commercial stability and strategic value.
We are pleased to sign QatarEnergy’s first 25-year condensate sales contract, the largest and longest to date. This agreement is significant because it was signed with our strategic partner, Shell, with whom we recently signed a 20-year naphtha sales contract. These long-term agreements provide stability and certainty, and contribute to generating greater value for our customer, Shell.
Global synergies between QatarEnergy and Shell
QatarEnergy and Shell have partnerships on several fronts: from liquefied natural gas (LNG) projects in the Gulf to the Pearl GTL plant, a benchmark in the production of liquid fuels from gas. These alliances reinforce both companies’ presence in the downstream market and their ability to secure reliable supplies.
This contract comes at a key time for global energy security. Condensate, an ultra-light hydrocarbon used in refining and petrochemicals, is a strategic resource for which demand continues to grow. The signed commitment ensures predictability for both QatarEnergy and Shell in an environment where long-term contracts are gaining prominence in the face of market volatility.
Future perspectives
With this step, Qatar strengthens its position as a key energy supplier in Asia and Europe. The agreement also reflects Shell’s commitment to diversify its portfolio with long-term, sustainable supplies. Both companies consolidate their role as key players in balancing supply and demand in the global hydrocarbon market.
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Source and photo: QatarEnergy
