KUWAIT CITY, Aug 26: Kuwait Petroleum Corporation (KPC) and QatarEnergy Company have announced the signing of a long-term agreement under which KPC will import up to three million metric tons of liquefied natural gas (LNG) over the next 15 years. The agreement was signed on behalf of KPC by Deputy Chairman and CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah.

On the Qatari side, the agreement was signed by the Minister of State for Energy Affairs, Managing Director, and CEO of QatarEnergy Eng. Saad bin Sherida Al-Kaabi. The signing ceremony was attended by senior officials from the oil sectors of both the State of Kuwait and the State of Qatar.

During the signing ceremony at the KPC headquarters, Sheikh Nawaf Al- Sabah affirmed the importance of this agreement, which builds on the foundation laid by the two parties in 2020 when they signed the first agreement. That agreement saw the Qatari side supply KPC with approximately three million metric tons of liquefied natural gas for 15 years, starting in 2022. Sheikh Nawaf Al-Sabah highlighted that signing the second agreement within a short period with QatarEnergy reflects the strength of the bilateral relations between the two friendly countries in all fields, particularly in the energy sector.

He added that this agreement refl ects KPC’s commitment to ensuring reliable and sustainable energy supplies, in line with its transformation strategy for 2050, as KPC aims to meet the country’s clean energy needs, particularly for electricity generation. Furthermore, Sheikh Nawaf Al- Sabah said the use of liquefied natural gas will help reduce harmful gas emissions and improve local air quality.

Meanwhile, Minister of State for Energy Affairs and President and CEO of QatarEnergy Eng. Saad Sherida Al-Kaabi said, “This longterm partnership between Kuwait Petroleum Corporation and Qatar- Energy is a pivotal element in supporting the sustainability goals of the State of Kuwait, particularly in electricity generation. It also refl ects our commitment to meeting the future needs of all our clients, especially Kuwait Petroleum Corporation.” It is worth highlighting that, under the new agreement, LNG shipments are set to start arriving at the LNG facility of the Zour Refinery from the beginning of 2025. This agreement represents a major step that confirms the strength of the regional energy sector and highlights the expertise and excellence of both Kuwait Petroleum Corporation and QatarEnergy

By Najeh Bilal
Al-Seyassah/Arab Times Staff