Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
QatarEnergy has signed a long-term condensate supply agreement with the Dubai-based ENOC Group, it said recently.
Under the 10-year sales agreement, QatarEnergy will supply up to 120 million barrels of condensates to ENOC starting July. The deal was by QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd., and ENOC Supply & Trading LLC, a subsidiary of ENOC, QatarEnergy said in a news release.
The terms of the agreement allow the parties to further increase the condensate volumes, as additional condensate volume is expected to be exported from Qatar once the North Field East (NFE) and North Field South (NFS) expansion projects come online.
“We are pleased to sign this long-term condensate sale agreement, further strengthening QatarEnergy’s relationship with ENOC, which extends back to 2008”, QatarEnergy President and CEO Saad Sherida Al-Kaabi said. “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.”
“We are honored to sign this long-term agreement with QatarEnergy, to strengthen the cooperation and partnership between both organizations which reiterates our commitment to offering exceptional value to our customers and stakeholders”, ENOC Group CEO Saif Humaid Al Falasi said. “As a leading integrated energy player, we recognize the role we play in contributing towards UAE’s continued success by collaborating with governmental entities across the globe.”
In May, QatarEnergy awarded a $10 billion engineering, procurement, and construction contract for the NFS project to a joint venture of Technip Energies and Consolidated Contractors Company. The project scope covers the construction of two mega liquefied natural gas trains with a capacity of eight million tons per annum each, as well as associated facilities for gas treatment, natural gas liquids recovery, and helium extraction and refining within Ras Laffan Industrial City.
NFS, together with the NFE project, will increase Qatar’s LNG production capacity from the current 77 million tons per annum to 126 million tons per annum, QatarEnergy said. The company holds a 75 percent stake in the NFS project and has signed partnership agreements with TotalEnergies, Shell, and ConocoPhillips for the remaining 25 percent.
