QatarEnergy and KPC sign 15-year LNG supply agreement
Involving 3 MTPA to Kuwait
QatarEnergy and Kuwait Petroleum Corporation (KPC) have formalised a 15-year LNG Sale and Purchase Agreement (SPA) for the delivery of up to 3 million tons per annum (MTPA) of liquefied natural gas (LNG) to Kuwait.
The agreement, which underscores the growing energy collaboration between the two Arabian Gulf states, was signed at a recent ceremony in Kuwait City.
The SPA stipulates that QatarEnergy will supply LNG to Kuwait’s Al-Zour LNG Terminal, utilising a fleet of conventional, Q-Flex, and Q-Max LNG vessels.
Deliveries are set to commence in January 2025, marking the beginning of a new chapter in the two nations’ energy cooperation.
The agreement marks QatarEnergy’s second long-term LNG SPA with KPC, further solidifying the strategic energy partnership between Qatar and Kuwait. The deal is expected to enhance bilateral trade and support Kuwait’s energy infrastructure and sustainability initiatives.
Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, and Sheikh Nawaf Saud Al-Nasir Al-Sabah, Deputy Chairperson and CEO of KPC, attended the signing ceremony. Senior executives from both companies also attended.
Kuwait’s sustainability goals
Al-Kaabi expressed his enthusiasm for the agreement: “This long-term partnership with KPC is key in supporting Kuwait’s sustainability goals, particularly in the electricity generation sector. It also reflects our dedication to meeting the future needs of all our clients, especially KPC.”
Khalid bin Khalifa Al Thani, CEO of QatarEnergy, stated: “Our renowned success is a testament to our dedication to building strong partnerships and maintaining the highest standards of safety, efficiency, and reliability across all our facilities.
“QatarEnergy LNG has been at the forefront of the LNG industry for decades, driving innovation, flexibility, and resource optimisation. Our commitment to excellence, rigorous HSSE standards, and a robust approach to sustainability have solidified our reputation as a world-class energy operator in a complex sector.”
Al Thanis added: “As LNG continues to play a crucial role in the global energy transition, our refreshed identity enhances Qatar’s international standing by leveraging the QatarEnergy brand to deliver more excellent value for the State of Qatar and our shareholders.
“As we embark on this new chapter, we are resolute in our mission to uphold the trust placed in us, advancing Qatar’s leadership in the energy sector, and positioning ourselves as the world’s LNG supplier of choice.”
Featured image: QatarEnergy is a world leader in the production of LNG. Credit: QatarEnergy
