Qatar Energy and Mitsui Company have a long-term strategic partnership (French)
Qatar Energy Company announced today that it has signed an agreement to supply Japan-based Mitsui & Co. with about 11 million barrels of condensate annually for a period of 10 years, starting next April.
According to a statement by Qatar Energy, the agreement allows for an increase in the volume of condensates and the start of exporting additional quantities upon the start of operation of the North East Field and North South Field expansion projects.
Condensers are often used in gasoline production.
Engineer Saad bin Sherida Al Kaabi, Qatari Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said: “We are pleased to sign this long-term sales agreement with one of our strategic Japanese partners, thus strengthening our decades-long relationship with Mitsui.”
He added, "This agreement represents an important step in enhancing cooperation between our two companies, achieving growth and adding value to both parties."
Qatar Energy announces an agreement to sell condensates to Mitsui for a period of ten years #Qatar_Energy #Qatar
- QatarEnergy (@qatarenergy) February 4, 2024
Qatar Energy and Mitsui have a long-term strategic partnership through many joint investments in the energy sector in Qatar, according to the statement.
Mitsui & Co. said last October that it was considering buying a stake in the North Field expansion project as a way to ensure it obtains a stable supply of liquefied natural gas.
Al-Kaabi also said last December that Qatar Energy Company is in talks with a number of Asian buyers to become “value-added” partners by obtaining a share in the expansion project.
The North Field expansion project is expected to increase Qatar's production to 126 million metric tons of liquefied natural gas annually by 2027, up from 77 million metric tons currently.
Source: Al Jazeera + Reuters