QatarEnergy signs 15-Year LNG supply agreement with Kuwait Petroleum Corporation to deliver up to 3 MTPA

QatarEnergy has signed a significant 15-year LNG Sale and Purchase Agreement  with Kuwait Petroleum Corporation to supply up to 3 million tonnes per annum of liquefied natural gas to Kuwait. The contracted LNG will be delivered to Kuwait’s Al-Zour LNG Terminal starting in January 2025, utilising QatarEnergy’s conventional LNG vessels, including Q-Flex and Q-Max.

The agreement was formalised during a special ceremony in Kuwait City, attended by His Excellency Saad Sherida Al-Kaabi, minister of state for energy affairs and president and CEO of QatarEnergy, and Shaikh Nawaf Saud Al-Nasir Al-Sabah, deputy chairman and CEO of KPC. Senior executives from both organisations also witnessed the signing.

In his remarks, Minister Al-Kaabi expressed his pleasure in strengthening the partnership between QatarEnergy and KPC, highlighting the agreement’s role in supporting Kuwait’s sustainability goals, particularly in electricity generation. He emphasised QatarEnergy’s commitment to meeting the future needs of its clients, including KPC.

Minister Al-Kaabi also noted that the bilateral relations between Kuwait and Qatar continue to deepen, driven by the leadership of His Highness Sheikh Tamim bin Hamad Al Thani of Qatar and His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah of Kuwait. This agreement, marking the second long-term LNG SPA between QatarEnergy and KPC, is expected to further enhance bilateral trade and cooperation between the two nations.

For more information visit www.qatarenergy.qa

27 August 2024