Qatar Petroleum inks 15-year LNG supply deal with KPC
LNG giant Qatar Petroleum and Kuwait Petroleum Corporation (KPC) entered into a long term sale and purchase agreement for the supply of up to 3 million tons per annum of LNG to Kuwait.
QP said that, under the 15-year agreement, LNG deliveries to Kuwait’s new LNG receiving terminal at Al-Zour Port would begin in 2022 and would support meeting Kuwait’s growing energy needs and demands, particularly in the power generation sector.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said: “We are pleased and proud to join hands with KPC, and we look forward to providing reliable LNG supplies to our brothers in Kuwait for decades to come.
“This agreement extends Qatar’s long-standing LNG supply relationship with Kuwait well into the 2030s and highlights our commitment to meeting Kuwait’s LNG requirements.”
Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water and chairman of KPC, 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.
“While KPC is working towards increasing local natural gas production, there remains a pressing need to secure imports of natural gas supplies.“