QatarEnergy and Shell have signed a five-year crude sales agreement, marking the first time that Qatar has entered into such a long-term deal. Under the agreement, Qatar will supply up to 18 million barrels of oil per year to Shell in Singapore, starting in January.

The deal was made between QatarEnergy and Shell International Eastern Trading Company, with QatarEnergy’s Chief Executive, Saad Sherida Al-Kaabi, expressing his excitement about the partnership.

“We are delighted to sign our first ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell,” Al-Kaabi said in a statement.