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Tuesday, April 16, 2024

Enoc signs 10-year condensate supply deal with Qatar Energy


Enoc Group, the world’s leading integrated energy company, and QatarEnergy, an integrated energy company, announced the signing of a 10-year sales agreement, stipulating to supply up to 120 million barrels of condensate to ENOC Group from July 2023.

The agreement was signed by Qatar Energy on behalf of Qatar Petroleum’s Sales of Petroleum Products Company (QPSPP) and Enoc’s subsidiary Enoc Supply & Trading.

Saif Humaid Al Falasi, CEO of Enoc Group, said: “We are honored to sign this long-term agreement with Qatar Energy to strengthen the collaboration and partnership between the two organizations, which reaffirms our commitment to excellence for our customers and stakeholders. A commitment to value. As a leading integrated energy player, we recognize the role we play in contributing to the continued success of the UAE by partnering with government entities globally.”

Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Energy, said: “We are delighted to sign this long-term condensate sales agreement, which further strengthens Qatar Energy’s partnership with Enoc, which dates back to 2008. We look forward to building on the historic working relationship and trust in Qatari condensate exports to further help our partners achieve the growth and development they hope to achieve.”

The terms of the agreement allow both parties to further increase condensate volumes under the contract, as Qatar is expected to export more condensate volumes once the North Field East (NFE) and North Field South (NFS) expansion projects come online. – trade arab news agency


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