Photo: Illustration only; Courtesy of KIPIC

Kuwait Petroleum issues 5 LNG cargoes tender for spring delivery

Kuwait’s national oil company Kuwait Petroleum (KPC) has issued a tender seeking five liquefied natural gas (LNG) cargoes for delivery from February to June 2022.

Kuwait Petroleum issues 5 LNG cargoes tender for spring delivery
Illustration only; Courtesy of KIPIC

Citing two industry sources, Reuters reported that Kuwait Petroleum is looking for five LNG cargoes in a newly issued tender.

Additionally, the company sought only fixed-priced offers. KPC ordered the five LNG cargoes for delivery from February to June 2022 to the Mina Al Zour refinery.

According to the report, the tender closed on the same day (19 October) and remained valid for eight hours.

To remind, KPC set up a new subsidiary KIPIC to manage LNG import operations in the Al-Zour complex.

The complex includes the LNG import facility, which is the country’s first. Specifically, it features eight LNG storage tanks with 225,500 cubic metres capacity each.

It also includes the regasification facility with a capacity of 3 billion cubic metres of natural gas per day.

The terminal received its first LNG shipment back in July.

Related Article

Moreover, Kuwait has a 15-year contract with state-owned QatarEnergy (recently renamed from Qatar Petroleum) to buy three million tonnes of LNG a year for the Al Zour LNG terminal. It also plans to buy another 3.5 million tonnes a year from other suppliers.