QatarEnergy enters 20-year naphtha supply agreement with Singapore-based (Shell)

QatarEnergy has announced entering into a long-term naphtha supply agreement with Singapore-based Shell International Eastern Trading Company (Shell). QatarEnergy said in a statement that the 20-year agreement stipulates the supply of up to 18 million tons of naphtha to be delivered to Shell starting in April 2025. The statement quoted the State for Energy Affairs and the President and CEO of QatarEnergy Saad bin Sherida Al Kaabi as saying "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." "Today's 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," said Al-Kaabi was quoted by QNA as saying, noting that they look forward to building on their longstanding relationship with Shell and achievi ng greater mutual successes along the way. On his part, CEO of Shell Wael Sawan said, "we are honored to enter into this long-term agreement with our esteemed partner, QatarEnergy," explaining that this deal will support Shell to deliver more value for their customers worldwide. 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. Source: Kuwait News Agency