Home Industry Energy UAE’s ENOC Group, QatarEnergy ink 10-year condensate supply deal The agreement allows the companies to further raise the condensate volumes by Gulf Business July 11, 2023 Image: Dubai Media Office/ ENOC Group ENOC Group and QatarEnergy have entered a 10-year sale agreement, enabling the supply of up to 120 million barrels of condensates to ENOC Group from July onwards. The agreement underscores ENOC Group’s efforts to meet the energy requirements in the UAE and the broader region, and QatarEnergy’s strategy in establishing direct sales with end-users and building up strategic business relationship and cooperation. The agreement allows the companies to further raise the condensate volumes, as additional condensate volume is expected to be exported from Qatar once the North Field East and North Field South expansion projects come online. QatarEnergy announces 10-year condensate supply agreement with UAE’s ENOC Group#QatarEnergy #YourEnergyTransitionPartner #Qatar — QatarEnergy (@qatarenergy) July 10, 2023 ENOC, QatarEnergy strengthen partnership Saif Humaid Al Falasi, Group CEO, ENOC said: “We are honoured to sign this long-term agreement to strengthen the cooperation and partnership between both organisations which reiterates our commitment to offering exceptional value to our customers and stakeholders. As a leading integrated energy player, we recognise the role we play in contributing towards UAE’s continued success by collaborating with governmental entities across the globe.” Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of QatarEnergy, said: “We are pleased to sign this long-term condensate sale agreement, further strengthening our relationship with ENOC, which extends back to 2008. We look forward to building on the historic working relationship and the trust in Qatar’s condensate exports to help further the growth and development our partners hope to achieve.” In other news, the Qatari energy company recently signed an agreement to acquire stakes in two offshore exploration blocks from ExxonMobil Canada, as part of the state-owned energy giant’s broader strategy to expand its global oil and gas portfolio. The farm-in agreement for two exploration licences offshore the Canadian provinces of Newfoundland and Labrador gave the company a 28 per cent interest in licence EL 1167 with ExxonMobil Canada holding a 50 per cent stake and Cenovus Energy the remaining 22 per cent. It also gave the company a 40 per cent interest in licence EL 1162 and ExxonMobil Canada holds the remainder. Read: How energy companies can prepare themselves for the low-carbon era Tags agreement energy ENOC QatarEnergy 0 Comments You might also like Abu Dhabi’s ADNOC says oil production capacity hits 4.85 million bpd Abu Dhabi’s Presight acquires 51% stake in G42, ADNOC tech venture Masdar, Bapco to develop wind energy projects in Bahrain UAE announces petrol, diesel prices for May 2024