DOHA: QatarEnergy has announced entering into a long-term naphtha supply agreement with Singapore-based Shell International Eastern Trading Company (Shell).The 20-year agreement stipulates the supply of up to 18 million tons of naphtha to be delivered to Shell starting in April 2025.
Minister of State for Energy Affairs and the President and CEO of QatarEnergy HE Saad bin 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."
"Todays signing further strengthens QatarEnergy's relationship with Shell, which is not only a reliable naphtha off-taker but also a major counterpart and strategic partner. We look forward to building on our longstanding relationship with Shell and achieving greater mutual successes along the way," he added.
On his part, CEO of Shell Wael Sawan said, "We are honoured to enter into this long-term agreement with our esteemed partner, QatarEnergy. 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 and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.