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FinancialNews


  • 06-01-20

    KPC, Qatar Petroleum sign sale, purchase deal

    (MENAFN) On Sunday, a long-term sale and purchase deal for the yearly supply of 3 million tons of Liquefied Natural Gas (LNG) to Kuwait was signed between Kuwait Petroleum Corporation (KPC) and Qatar Petroleum.


    The deal was signed by Khaled Al-Fadhel, Kuwaiti minister of oil and chairman of KPC, and Saad Sherida al-Kaabi, Qatari minister of state for energy affairs and president of Qatar Petroleum.


    The deal says that, LNG deliveries to Kuwait will begin in 2022 to help Kuwait's rising energy requirements and demand, mainly in the power generation sector.


    As said by Khaled Al-Fadhel, Kuwait is getting on an ambitious path of economic expansion, which requires cleaner energy sources like natural gas which will add to reducing emissions and enhancing air quality, also, Saad Sherida al-Kaabi said the deal will widen Qatar's long standing LNG supply relationship with Kuwait well into the 2030s.

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