Qatar Petroleum Company (QP) has signed a 15-year sale and purchase agreement with Kuwait Petroleum Corporation (KPC) to export up to three million tons of liquefied natural gas (LNG) per year, QP announced in a statement on January 5, 2020.
Duringa special ceremony held in Kuwait City, the agreement was signed by Khaled Al-Fadhel, the Minister of Oil and the Minister of Electricity and Water, the Chairman of the Board of KPC; and Saad Al-Kaabi, Qatar’s Minister of Energy Affairs, the President and CEO of QP.
Under the agreement, QP would begin delivering LNG to Kuwait’s Al-Zour’s port in 2022. This would greatly help fulfill Kuwait’s energy needs, particularly in the power generation sector.
“We are confident that the exceptional reliability of our LNG supplies will provide KPC with the required flexibility and supply security to fuel the State of Kuwait’s impressive growth,” Al-Kaabi commented.
“The state of Kuwait is embarking on an ambitious path of economic growth, which requires cleaner energy sources such as natural gas that will contribute to reducing emissions and improving local air quality,” Al-Fadhel added.
Signing such a remarkable agreement is expected to strengthen the brotherly relationship between Qatar and Kuwait in general, and between QP and KPC in particular.