Qatar Petroleum (QP) has signed a 20-year Sale and Purchase Agreement (SPA) with Korea Gas Corporation (KOGAS) to supply 2 million tons of liquified natural gas (LNG) per year (mmt/y) to the Republic of Korea.

The project is known as Aramco Hawiyah Unayzah Gas Reservoir Storage (HUGRS), located 260 kilometers (km) east of Saudi Arabia's capital Riyadh. The area includes a gas injection facility of 1,500 million standard cubic feet per day (mmscf/d) and a gas reprocessing facility of 2,000 mmscf/d.

The Korea National Oil Corporation (KNOC) Chairman, Suyeong Yang stated that the company aims to expand its investments in Egypt to strengthen the bilateral relationship between the two countries, as well as for the active investments’ atmosphere in Egypt.

South Korean companies will participate in Oman's large-scale energy and infrastructure projects worth over $27b.

Saudi Electricity Co (SEC) signed a $900m loan agreement with the Export-Import Bank of Korea (KEXIM) among other international lenders, to help finance the construction of a 2,640MW power plant in Shuqaiq.