Qatar Liquefied Gas Company Limited (2) (Qatargas 2) and Kuwait Petroleum Corporation (KPC) have agreed to supply 500,000 tonnes of Liquefied Natural Gas (LNG) to Kuwait throughout the next four years, starting from March 2016.
Kuwait's LNG delivery season typically would start from March to November of each year, to meet Kuwait's growing demand for power during peak summer months.
The LNG will be sourced from Qatargas 2, a joint venture between Qatar Petroleum, ExxonMobil and Total, which started production in 2009, and will be delivered on-board Q-Flex LNG Vessels, chartered by Qatargas, to KPC's Mina Al-Ahmadi LNG receiving terminal in Kuwait.
Saad Sherida Al-Kaabi, Chairman of the Board at Qatargas, said: “The agreement consolidates the position of Qatargas as the LNG partner in the GCC region and the Middle East, and enhances its established global position.
“The conclusion of this agreement cements the positive and mutually beneficial trade relations between the Qatari and Kuwaiti energy sectors, and enhances the position of the State of Qatar as a safe and reliable supplier of clean energy to all corners of the world.”
Khalid Bin Khalifa Al-Thani, CEO at Qatargas, said: “The signing of this agreement with KPC is another significant step in demonstrating Qatargas' capability to reliably and efficiently lead the supply of LNG to the Middle Eastern emerging energy markets.
“This deal demonstrates the eagerness to strengthen and expand our relationship, and Qatargas' readiness to meet KPC's future demand for LNG.”