2023-07-10 14:22:04
Qatar supplies the UAE with 120 million barrels of condensate for 10 years
Qatar Energy has announced the signing of a long-term agreement for the supply of condensate for the benefit of the Emirati group “ENOC” operating in the field of oil and gas in the Emirate of Dubai, to provide it with a total of 120 million barrels of condensate over a period of 10 years, starting from the month of July.
Commenting on the signing, the Qatari Minister of State for Energy Affairs and CEO of “Qatar Energy”, Saad bin Sherida Al-Kaabi, said on Monday that the signing of the long-term agreement for the sale of condensate would strengthen the relationship of “Qatar Energy” with the Emirates National Oil Company, which Its roots go back to 2008.
In a statement issued by the company today, Monday, the minister said: “We look forward to building on this historical working relationship and on the confidence in the State of Qatar’s exports of condensate, which contribute to enhancing the growth and development that our partners aspire to.”
For his part, Saif Humaid Al Falasi, CEO of ENOC Group, said: “We are pleased to sign this long-term partnership with Qatar Energy, which will contribute to strengthening cooperation between the two institutions, which confirms our commitment to providing our customers and stakeholders with exceptional value both in the UAE.” the United States or across the region and the world.
The terms of the agreement allow the parties concerned to increase the volumes of condensate included in the signed contract, as additional quantities of condensate are expected to be exported from the State of Qatar as soon as production starts from the Northeast and South field expansion projects at the end of 2025.
It should be noted that the State of Qatar supplies the UAE with natural gas under a long-term agreement that extends to the year 2032, through an undersea pipeline, managed by the “Dolphin Energy” company, and extends 364 km from “Ras Laffan” in Qatar to Abu Dhabi in the Emirates. and beyond to the Sultanate of Oman.
The pipeline carries about two billion cubic feet of Qatari gas per day, knowing that most of that amount meets about 30% of the UAE’s energy needs. On June 20, Al-Kaabi announced that Qatar Energy had signed an agreement with the China National Petroleum Corporation to supply 4 million metric tons annually of liquefied natural gas for a period of 27 years.
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