Tasweeq and ADNOC sign first condensate term contract

February 16, 2014 10:57 am

Qatar International Petroleum Marketing Company Ltd. (Tasweeq) Q.J.S.C entered into its first term contract with Abu Dhabi National Oil Company (ADNOC) for the sale and purchase of Qatar Condensates.

The Agreement was executed by Mr. Saad A. Al-Kuwari, Tasweeq’s CEO and Mr. Sultan A. Al-Mehairi, ADNOC’s Director of Marketing & Refining in the presence of senior representatives from both companies at Tasweeq headquarters in Doha on January 28.

Speaking at the ceremony, Mr. Al-Kuwari expressed his gratification in support of this Agreement and said, “Under the guidance of HE Dr. Mohammed bin Saleh Al-Sada, Minister of Energy & Industry and Tasweeq’s Chairman, we signed the agreement with ADNOC, which will not only reinforce the relationship between ADNOC & Tasweeq, but will also fortify the economic association between our companies. It is important we carry forward this partnership to new heights in the coming years.”

Mr. Al-Mehairi, commented, “I am pleased to announce the success of the first condensate term contract between ADNOC and Tasweeq”. Mr. Al-Mehairi confidently affirmed that this cooperation will lead to further developing business relations between ADNOC and Tasweeq; he also thanked the working teams on both sides for their effort.

Qatar Condensate is produced by Dolphin Energy Ltd and Qatar Shell’s Pearl GTL Plant from the North Field Gas Reservoir in Qatar. The condensate is primarily used in the Condensates Splitter Units and topping refineries and also used as a lightning agent for blending heavier crude oil. ADNOC will use Qatar Condensate as splitter refinery feedstock.

For more information, please contact:
Mr. Abdulla Al-Marri
Public Relations Manager – Tasweeq
Tel: +974 4497 6248
Fax: +974 4497 6280