Qatar Liquefied Gas Company Limited (2) (Qatargas 2) and Kuwait Petroleum Corporation (KPC) have executed an agreement recently to supply half a million tonnes of Liquefied Natural Gas (LNG) to Kuwait over the next four years.
The LNG will be sourced from Qatargas 2, a joint venture between 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.
Mr. Saad Sherida Al-Kaabi, Qatargas Chairman of the Board, 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."
Khalid Bin Khalifa Al-Thani, Qatargas Chief Executive Officer, 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."
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.