Energy QatarEnergy signs 5-year crude supply deal with Shell By Pramod Kumar December 29, 2023, 4:57 AM Reuters/Ahmed Jadallah The average realised prices stood at $51 per barrel for condensate in 2023 State-owned QatarEnergy has signed a five-year crude supply agreement with Shell in Singapore. The company will supply up to 18 million barrels of Qatar Land and Qatar Marine crude oils each year to Shell International Eastern Trading Company starting in January. “We are delighted to sign our first-ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell,” QatarEnergy CEO Saad Al Kaabi said in a statement. In April, QatarEnergy agreed with British oil and gas company Shell to acquire a 40 percent working interest in the C-10 block located offshore Mauritania. Qatar is the world’s largest LNG supplier and plans to expand output to 126 million tonnes annually by 2027 from 77 million tonnes under the two-phase North Field expansion project. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
