Qatargas in four-year deal to supply LNG to Kuwait
April 06 2016 08:48 PM
Qatargas
The floating storage and regasification unit (FSRU) 'Golar Igloo', chartered by Kuwait National Petroleum Company.

Doha

Qatargas 2 and Kuwait Petroleum Corporation (KPC) have executed an agreement to supply half a million tonnes of liquefied natural gas (LNG) to Kuwait over the next four years, from March 2016.
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.”
Al-Kaabi said, “the conclusion of this agreement cements the positive and mutually beneficial trade relations between the Qatari and Kuwaiti energy sectors, and enhances the position of Qatar as a safe and reliable supplier of clean energy to all corners of the world.”
On the agreement, Qatargas chief executive officer Sheikh Khalid bin Khalifa al-Thani said, “The signing of this agreement with KPC is another significant step in demonstrating Qatargas’ capability to reliably and efficiently lead the supply of LNG to the Middle Eastern emerging energy markets. This deal demonstrates the eagerness to strengthen and expand our relationship, and Qatargas’ readiness to meet KPC’s future demand for LNG.”
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.
As for other Middle Eastern markets, Qatargas has been supplying LNG to Dubai since 2008 and has delivered a commissioning cargo to Jordan in May last year.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore