QatarEnergy Naphtha Deal Deepens Trading Partnership With Shell

11 Oct 2024 Issue: 67 / 41 By: James Marriott

QatarEnergy has deepened its trading relationship with Shell through a 20-year naphtha supply deal. With Shell selling its refining and chemicals complex in Singapore, the firm may allocate more volumes to its trading arm.

QatarEnergy announced on 8 October that it has signed a 20-year deal to supply up to 900,000 t/y (22,000 b/d) of naphtha to Singapore-based Shell International Eastern Trading Company starting in April 2025. The deal is “the largest and longest to date,” for the firm says CEO Saad al-Kaabi. Shell CEO Wael Sawan signed the deal in person in Doha, underlining the importance he places on the relationship with QatarEnergy.

This deal is certainly considerably larger than the previous five-year 200,000 t/y (5,000 b/d) sales agreement with Shell, which is set to expire in April next year. “Today’s signing further strengthens QatarEnergy’s relationship with Shell, which is not only a reliable naphtha off-taker but also a major counterpart and strategic partner,” says Mr Kaabi. (CONTINUED - 746 WORDS)