QatarEnergy and KPC sign 15-year SPA
Published by Jessica Casey,
Editor
LNG Industry,
QatarEnergy entered into a 15-year LNG sale and purchase agreement (SPA) with Kuwait Petroleum Corp. (KPC) for the supply of up to 3 million tpy of LNG to the State of Kuwait.
Pursuant the terms of the SPA, the contracted LNG volumes will be delivered ex-ship to Kuwait's Al-Zour LNG Terminal onboard QatarEnergy’s conventional, Q-Flex, and Q-Max LNG vessels, starting in January 2025.
The agreement was signed during a special ceremony held in Kuwait City by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Shaikh Nawaf Saud Al-Nasir Al-Sabah, Deputy Chairman and CEO of KPC. The signing was witnessed by senior executives from KPC and QatarEnergy.
Al-Kaabi said: “I am pleased to be in Kuwait, a country that is dear to our hearts, and to build a new long-term partnership between KPC and QatarEnergy, that constitutes a central element in supporting Kuwait’s sustainability goals particularly in the electricity generation sector. It also reflects our commitment to support the future needs of all our clients, foremost of which is KPC.”
This new agreement is the second long term LNG SPA with KPC, and is considered pivotal in further boosting bilateral trade between the State of Qatar and the State of Kuwait.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26082024/qatarenergy-and-kpc-sign-15-year-agreement-spa/
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