Qatargas in 4-Year Deal to Supply LNG to Kuwait
Qatargas and Kuwait Petroleum Corporation (KPC) have signed a deal to supply half a million tonnes of liquefied natural gas (LNG) to Kuwait over the next four years, according to a report.
The LNG will be sourced from Qatargas 2, a joint venture among Qatar Petroleum, ExxonMobil and Total which started production in 2009, and will be delivered onboard Q-Flex LNG Vessels, chartered by Qatargas, to KPC’s Mina al-Ahmadi LNG receiving terminal in Kuwait.
Saad Sherida al-Kaabi, Qatargas chairman, 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.”
Sheikh Khalid bin Khalifa Al-Thani, CEO of Qatargas Operating Company Ltd., reinforced the significance of the agreement and said: “The signing of this agreement with KPC marks yet another accomplishment for Qatargas as it continues to play a key role in the Middle Eastern market and positions itself as a world leader in the supply of energy to global markets.”
Qatargas has supplied Kuwait with most of its LNG requirements for the last five years, through direct sales to KPC and through third parties that have deals with Qatargas and with KPC. Elsewhere in the Middle East, Qatargas has supplied LNG to Dubai since 2008 and delivered a commissioning cargo to Jordan in May last year.
Kuwait’s LNG delivery season typically would start from March and extend to November of each year to meet the growing demand for power during peak summer months.
Qatargas has been supplying Kuwait with the majority of its LNG requirements for the past five years through both direct sales to KPC and through third parties who have made deals with both Qatargas and KPC.
