Dubai, UAE: – ENOC Group, a leading integrated global energy player, and QatarEnergy, an integrated energy company today announced a 10-year sale agreement stipulating the supply of up to 120 million barrels of condensates to ENOC Group starting from July 2023.

The agreement was signed by QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP), and ENOC Supply & Trading LLC, a subsidiary of ENOC.

His Excellency Saif Humaid Al Falasi, Group CEO, ENOC 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. 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.”

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to sign this long-term condensate sale agreement, further strengthening QatarEnergy’s relationship with ENOC, which extends back to 2008. 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.”

The agreement highlights ENOC Group’s efforts to catering the energy needs in the UAE and the broader region, as well as QatarEnergy’s strategy in establishing direct sales with end-users and building up strategic business relationship and cooperation.

Terms of the agreements allows parties to further increase the condensate volumes under the contract, 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. 

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About ENOC Group:

ENOC Group (Emirates National Oil Company) is a leading integrated international oil and gas player operating across the energy sector value chain. As a wholly owned entity of the Government of Dubai, and integral to the Emirate’s success, ENOC owns and operates assets in the fields of exploration & production, supply & operations, terminals, fuel retail, aviation fuel and petroleum products for commercial & industrial use. The Group’s general business operations include automotive services, non-fuel F&B retail and fabrication services. Servicing thousands of customers in over 60 markets, the Group employs a multi-national workforce of over 11,000 employees and is deploying its world-class customer service, latest innovations, and technologies as well as best practices to empower the UAE’s social and economic development. For further information, please visit: www.enoc.com

For further information, please contact: 
Srishti Soni | Taief Saleh 
ASDA’A BCW 
Srishti.Soni@bcw-global.com | Taief.Saleh@bcw-global.com  

About QatarEnergy

QatarEnergy is an integrated energy company committed to the sustainable development of cleaner energy resources as part of the energy transition in the State of Qatar and beyond.

We are the world leader in Liquefied Natural Gas (LNG) – a cleaner, more flexible, and reliable source of energy, and an integral partner in the global energy transition. Our activities cover the entire spectrum of the oil and gas value chain and include the exploration, production, processing, refining, marketing, trading, and sales of energy products and commodities.

As “Your Energy Transition Partner”, QatarEnergy is committed to building a better and brighter future by helping meet today’s energy needs, while safeguarding our environment and natural resources for generations to come, bound by the highest standards of sustainable human, socio-economic, and environmental development.