Qatar Petroleum and Kuwait Petroleum Corporation (KPC) signed an agreement for the supply of up to 3 million tons per annum of LNG to Kuwait. The agreement will last for 15 years, and will start in 2022.
According to the agreement, LNG deliveries to Kuwait’s new LNG receiving terminal at Al-Zour Port will support Kuwait’s increasing energy needs and demand, especially in the power generation sector.
Commenting on the agreement, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, stated:
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
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In addition, Dr. Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water, the Chairman of the Board of Kuwait Petroleum Corporation, noted that Kuwait is taking a new path of economic growth, which mandates cleaner energy sources, like natural gas, that will contribute to reducing emissions and improving local air quality.
This agreement also aims to strengthen the relationships between Kuwait and Qatar, and further enhance the ties between Kuwait Petroleum Corporation and Qatar Petroleum.
