QatarEnergy inks 15-year LNG supply deal with Kuwait’s KPC

DOHA, August 26, 2024 – QatarEnergy has signed a deal for the supply of 3 million tonnes per year of LNG to Kuwait Petroleum Corporation (KPC), the companies announced on Monday.

The 15-year sale and purchase agreement provides for the supply of LNG to Kuwait starting in January 2025.

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.

Qatari Minister of State for Energy Affairs H.E. Saad Sherida Al Kaabi hailed what he called a “long-term partnership between KPC and QatarEnergy that constitutes a central element in supporting Kuwait’s sustainability goals particularly in the electricity generation sector.”

The new agreement is Qatar’s second long-term LNG SPA with KPC.

In February, QatarEnergy announced plans to expand production in its North Field, the world’s largest known gas reservoir, and increase the country’s LNG production capacity by at least 16 million tpy. The move is in addition to a 49-million-tpy expansion project already underway, and would bring North Field LNG output to 142 million tpy by 2030.

Photo courtesy of QatarEnergy.

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