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Qatar Petroleum and Kuwait Petroleum Corp. sign LNG agreement

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LNG Industry,


Qatar Petroleum has announced that it has signed a long-term sale and purchase agreement (SPA) with Kuwait Petroleum Corp. (KPC) for the supply of up to 3 million tpy of LNG to Kuwait.

Under the terms of the 15-year agreement, LNG deliveries to Kuwait’s new world class LNG receiving terminal at Al-Zour Port will commence in 2022. The fuel will be used to help meet Kuwait’s growing energy needs and demand, especially in the power generation sector.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and the President and CEO of Qatar Petroleum, said: “We are pleased and proud to join hands with Kuwait Petroleum Corp., and we look forward to providing reliable LNG supplies to our brothers in the State of Kuwait for decades to come.”

“This agreement extends Qatar’s long standing LNG supply relationship with Kuwait well into the 2030’s and highlights our commitment to meeting Kuwait’s LNG requirements. We are confident that the exceptional reliability of our LNG supplies will provide KPC with the required flexibility and supply security to fuel the State of Kuwait’s impressive growth.”

Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water, the Chairman of the Board of Kuwait Petroleum Corp., added: “The state of Kuwait is embarking on an ambitious path of economic growth, which requires cleaner energy sources such as natural gas that will contribute to reducing emissions and improving local air quality. Whilst KPC is working towards increasing local natural gas production, there remains a pressing need to secure imports of natural gas supplies.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06012020/qatar-petroleum-and-kuwait-petroleum-corp-sign-lng-agreement/

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