Doha’s QatarEnergy inked a 15-year LNG sale and purchase agreement (SPA) with Kuwait Petroleum Corporation (KPC) for the supply of up to 3 million tons per annum (mtpa) of LNG to Kuwait.
The senior executives of Kuwait Petroleum Corporation (KPC) and QatarEnergy witnessed the signing ceremony held in Kuwait City.
The deal was signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and chief executive officer of QatarEnergy, and Shaikh Nawaf Saud Al-Nasir Al-Sabah, deputy chairman and chief executive officer of KPC.
The contracted LNG volumes will be delivered ex-ship to Kuwait’s Al-Zour LNG terminal onboard QatarEnergy’s conventional, Q-Flex, and Q-Max LNG vessels, starting in January 2025.
This new agreement is the second long term LNG SPA with KPC, and is considered pivotal in further boosting bilateral trade between the State of Qatar and the State of Kuwait.
Minister Al-Kaabi during the ceremony said: “I am pleased to be in Kuwait, a country that is dear to our hearts, and to build a new long-term partnership between KPC and QatarEnergy, that constitutes a central element in supporting Kuwait’s sustainability goals particularly in the electricity generation sector. It also reflects our commitment to support the future needs of all our clients, foremost of which is KPC.”
“Our bilateral relations continue to grow and achieve the aspirations and interests of our peoples under the wise leadership of His Highness Sheikh Tamim bin Hamad Al Thani and His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, which underlines the deep brotherly ties and the long-term partnership between Kuwait and Qatar,” he added.
