UAE – Mubasher: ENOC Group announced a 10-year sale agreement with QatarEnergy starting from July 2023, according to a press release.
Upon the agreement, QatarEnergy will supply up to 120 million barrels of condensates to ENOC.
QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Limited (QPSPP), signed the deal with ENOC Supply & Trading LLC, a subsidiary of ENOC.
CEO of ENOC, Saif Humaid Al Falasi, 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.”
Al Falasi added: “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.”
President and CEO of QatarEnergy, Saad Sherida Al Kaabi, who serves as the Minister of State for Energy Affairs, said: “We are pleased to sign this long-term condensate sale agreement, further strengthening QatarEnergy’s relationship with ENOC, which extends back to 2008.”
The agreement allows parties to further increase the condensate volumes under the contract. ENOC noted that additional condensate volume is expected to be exported from Qatar once the production begins after expansion projects in the North Field East (NFE) and North Field South (NFS) are completed.
