In a groundbreaking move, Qatar has inked a momentous agreement with Shell in Singapore, solidifying a five-year commitment to supply up to 18 million barrels of oil annually. This landmark deal marks Qatar’s inaugural venture into a half-decade-long crude sales arrangement, showcasing the Gulf state’s dedication to establishing enduring partnerships in the global energy market. QatarEnergy, a key player in the country’s energy sector, proudly announced the accord with Shell International Eastern Trading Co., emphasizing its commitment to providing a steady annual supply of both Qatar Land and Qatar Marine crude oils, commencing from January.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, expressed enthusiasm about the historic agreement, stating, “We are delighted to sign our first-ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell, which is not only a reliable crude oil off-taker but also a major customer and a strategic partner of QatarEnergy.” The agreement not only underscores Qatar’s strategic approach to fostering longer-term business relationships but also highlights the robust and enduring collaboration between QatarEnergy and Shell. The two entities have a longstanding partnership, engaging in shared investments across the global energy sector, including QatarEnergy LNG projects, the Pearl GTL Plant, and various joint ventures that exemplify the mutual commitment to advancing the energy landscape.