QatarEnergy inks long-term condensate supply deal with Dubai’s ENOC Group

QatarEnergy has sealed a long-term condensate supply agreement with Dubai’s sENOC Group, a significant integrated energy company.

This deal will see the supply of up to 120 million barrels of condensates to ENOC Group, starting from July 2023. Signed by QatarEnergy on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP) and ENOC Supply & Trading LLC, an ENOC subsidiary, this 10-year contract underscores QatarEnergy’s approach of setting up direct sales with end-users and fostering strategic business relations.

Saif Humaid Al Falasi — ENOC Group CEO said: “We are honoured to sign this long-term agreement with QatarEnergy, to strengthen the cooperation and partnership between both organisations which reiterates our commitment to offering exceptional value to our customers and stakeholders.

“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 terms of this agreement provide room for a potential increase in condensate volumes under the contract. This is in anticipation of additional condensate volume expected to be exported from Qatar once the North Field East (NFE) and North Field South (NFS) expansion projects commence operations.

Saad Sherida Al-Kaabi — Qatar Minister of State for Energy Affairs and QatarEnergy President and CEO said: “We are pleased to sign this long-term condensate sale agreement, further strengthening 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.”