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Qatar Petroleum and Kuwaiti Petroleum Signs an Agreement
to Supply Kuwait with 3 Million Tons of Liquefied Natural Gas
(LNG) Annually, For 15 Years
5
January 2020
Qatar Petroleum and Kuwait Petroleum Corporation entered into a long
term sale and purchase agreement to supply up to 3 million tons
of liquefied natural gas (LNG) annually to the State of Kuwait.
The agreement was signed by HE D. Khaled Ali Al Fadhel, Minister of
Oil, Minister of Electricity & Water and Chairman of Kuwait
Petroleum Corporation, and HE Mr. Saad Sherida Al Kaabi, State
Minister for Energy Affairs, President and CEO of Qatar
Petroleum during a special ceremony held in Kuwait City.
According to the 15-year term agreement, deliveries of LNG will
commence arriving at the receiving terminal of the LNG compound
in Al Zour Port starting 2022 to support the increased demand on
energy in the State of Kuwait, especially power generating
sector.
HE, Mr. Saad Al Kaabi, Minister of State for Energy Affairs,
President and CEO of Qatar Petroleum welcomed the signing of the
agreement and said “we are pleased and proud of synergy efforts
with Kuwait Petroleum Corporation and we look forward to
supplying LNG in a trusted and reliable manner to the State of
Kuwait for decades to come.
“This agreement will contribute to the reinforcement of Qatar’s
distinguished relation with the State of Kuwait through the
supply of LNG till after the second half of the next decade. At
the same time it reflects the strength of our partnership and
highlights our commitment for further development of the
partnership. The agreement also outlines our flexibility and
high abilities to secure the needed supply of LNG for the State
of Kuwait to ensure security supply fuel for its increased
growth,” HE, Al-Kaabi added.
On his part, HE, Mr. Al Fadhel said, “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. Whilst KPC is working towards increasing local natural
gas production, there remains a pressing need to secure imports
of natural gas supplies.”
This agreement reinforces the solid brotherly relationship between
Kuwait and Qatar and further strengthens the ties between Kuwait
Petroleum Corporation and Qatar Petroleum.
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