Qatar Petroleum (QP) has concluded a five-year sale agreement with Shell International Eastern Trading Company (SIETCO) to supply annually 900,000 metric tonnes of full-range naphtha and plant condensate per year, starting in April 2020.
Under the agreement, Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) will supply the products to SIETCO, a registered business of Shell Eastern Trading, which is based in Singapore.
"We are pleased to achieve this milestone agreement in our effort to directly sell to users of our products. It is also our pleasure to expand our global relationship with SIETCO, which delivers to customers in key markets in Asia such as China and to Shell’s ethylene cracker in Singapore," said HE Saad Sherida al-Kaabi, Minister of State for Energy Affairs as well as QP president and chief executive.
QP and Shell have a long-standing strategic partnership through several shared investments in Qatar’s energy industry. This includes Qatargas 4, which produces and exports about 7.8mn tonnes of liquefied natural gas per annum, and Pearl GTL, the world’s largest gas-to-liquids plant.
The relationship with Shell also includes strategic global partnerships, which include a petrochemical joint venture in Singapore, a joint venture to develop LNG marine fueling (bunkering) infrastructure at strategic shipping locations across the globe, as well as exploration operations in Brazil, Mexico and Argentina.