QatarEnergy has announced a five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell).

The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting January 2024.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “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. We look forward to building on our historic relationship and hope we achieve greater success with Shell.”

The agreement highlights QatarEnergy’s strategy in establishing longer-term strategic business relationship and cooperation.

QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.