QatarEnergy and Shell Sign 20-Year Naphtha Supply Agreement

QatarEnergy has signed a significant long-term naphtha supply agreement with Shell International Eastern Trading Company, a subsidiary of Singapore-based Shell. The agreement, which spans 20 years, involves the supply of up to 18 million tons of naphtha to Shell, with deliveries set to commence in April 2025.

His Excellency Mr. Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs and the President and CEO of QatarEnergy, expressed enthusiasm about this milestone, highlighting that it is QatarEnergy’s largest and longest naphtha sales agreement to date. “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,” stated Al-Kaabi.

He further emphasized the significance of the partnership with Shell, noting that this agreement strengthens the bond between the two companies. Al-Kaabi described Shell as a "reliable naphtha off-taker" and a key strategic partner. He added, "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. We look forward to building on our longstanding relationship with Shell and achieving greater mutual successes along the way."

On Shell's behalf, CEO Wael Sawan shared similar sentiments, stating that the company is honored to enter into this long-term agreement with 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,” Sawan said.

The partnership between QatarEnergy and Shell extends beyond this naphtha agreement, with both companies sharing a longstanding history of collaboration. Their joint investments span various projects within Qatar and globally. These include major ventures such as QatarEnergy’s liquefied natural gas (LNG) projects and the Pearl Gas-to-Liquids (GTL) Plant, along with several other collaborative initiatives. This new agreement builds on their mutual commitment to strengthen their partnership and expand their joint efforts within the global energy landscape.

This latest development reflects QatarEnergy's strategy of fostering long-term relationships with established industry partners while reinforcing its position as a key player in the global energy sector. Similarly, for Shell, the agreement marks a critical step in ensuring a consistent and reliable supply of naphtha for its operations, enabling the company to continue delivering value to its global customer base.

QatarEnergy, formerly known as Qatar Petroleum, is Qatar's state-owned petroleum company. It oversees all oil and gas operations in the country, including exploration, production, refining, transportation, and storage activities.