Kuwait Signs LNG Import Deal with Qatargas

Source: Reuters 4/27/2014, Location: Middle East

Kuwait has signed a contract to import liquefied natural gas (LNG) from fellow Gulf state Qatar to help meet its energy needs to the end of 2014, state news agency KUNA reported. The first shipment of LNG will arrive in Kuwait on Monday under the contract between Kuwait Petroleum Corporation (KPC) and state-owned Qatargas, KUNA said.

There were no further details on the terms of the deal with Qatar, which is the world's largest LNG exporter. Rising air conditioning demand in the hot Middle Eastern summer and a lack of domestic supply means OPEC member Kuwait needs to import more gas each year to run its power plants.

The contract paves the way for greater cooperation between the two companies, KUNA quoted a KPC official as saying. It added that major oil producer Kuwait was still looking at ways to supply its LNG needs beyond 2019.

Kuwait began importing LNG in 2009 and signed deals with Royal Dutch Shell (Xetra: R6C1.DE - news) and Swiss-based trader Vitol to supply it during the peak power demand period from April to October over the last four summers.

Earlier this month KPC said Shell and BP had signed deals to supply Kuwait with LNG over the next five to six years. The combined supply from the two companies will be around 2.5 million tonnes a year.


Nigeria >>  8/16/2022 - Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that...
Canada >>  8/15/2022 - Archaea Energy Inc. (“Archaea,” “the Company,” or “we”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that i...

United Kingdom >>  8/9/2022 - Centrica and Delfin Midstream Inc. announced the signing of a Heads of Agreement to purchase 1.0 million tonnes per annum (MTPA) of Liquefied Natural ...
Australia >>  8/8/2022 - Beach Energy (BPT, Beach) is pleased to confirm finalisation and signing of the LNG Sale and Purchase Agreement (“SPA”) with BP Singapore Pte. Limited...

Brazil >>  8/5/2022 - Petrobras, following up on the release disclosed on 05/24/2022, informs that it has celebrated a new addendum to the natural gas purchase contract wit...
Pakistan >>  8/3/2022 - Engro Eximp FZE, a subsidiary of Engro Corporation, announced today that it has entered a Memorandum of Understanding (“MOU”) with Excelerate Energy, ...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.