Kuwait, Shell Sign LNG Import Deal

The Kuwait Petroleum Corp (KPC) and Shell signed a six-year LNG import deal worth about $12 billion.

KPC also plans to ink a $3 billion LNG supply deal with BP on Monday, Reuters reported, citing Nasser al-Mudaf, head of KPC’s international marketing division as saying.

Surging air conditioning demand in the Middle Eastern summer and a lack of domestic supply mean Kuwait needs to import more LNG each year to feed its power plants.

The country also signed an LNG deal with Qatar, the world’s largest LNG producer, last month.