LNG giant QatarEnergy has signed a long-term condensate supply deal with a unit of Dubai-based Emirates National Oil Company.
Under the 10-year deal, QatarEnergy will supply up to 120 million barrels of condensates to ENOC Group starting from July 2023, it said in a statement.
According to QatarEnergy, the terms of the agreement 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.
QatarEnergy did not provide any additional information.
“We are pleased to sign this long-term condensate sale agreement, further strengthening QatarEnergy’s relationship with Enoc, which extends back to 2008,” Saad Sherida Al-Kaabi, Qatar’s energy minister and CEO of QatarEnergy, said in the statement.
Together, NFE and NFS form the wider North Field Expansion project to increase LNG production from the North Field, adding about 48 mtpa to Qatar’s export capacity and bringing it to 126 mtpa.
QatarEnergy’s unit Qatargas currently has an LNG production capacity of about 77 mtpa in the giant Ras Laffan complex.