Qatar International Petroleum Marketing Company (Tasweeq) plans to renew its contract to supply condensate to the UAE for 2015, according to company officials
Under the current 2014 contact, Tasweeq supplies three cargoes a month to the UAE, two to Abu Dhabi’s Emirates National Oil Company (ENOC) and one to Abu Dhabi’s National Oil company (ADNOC), Saad al-Kuwari, chief executive of Tasweeq said.
Each cargo has 500,000 tonnes of condensate, Reuters reported.
“The ENOC contract expires soon and we plan to renew it. We will supply ENOC with same volumes and any extra demand will depend on availability,” Al-Kuwari added.
Last year, ENOC said it had started importing condensate from Qatar to replace sanctioned Iranian oil.
Qatar reportedly expects a drop in its condensate exports to 350,000 tonnes per annum in 2017 compared with the current half a million tonnes a year as the Phase-2 of the Ras Laffan Refinery will come online by the end of 2016.
