DOHA: QatarEnergy has entered into a 15-year LNG Sale and Purchase Agreement (SPA) with Kuwait Petroleum Corporation (KPC) for the supply of up to 3 million tonnes per annum (MTPA) of LNG to Kuwait.
Under the terms of the SPA, the contracted LNG volumes will be delivered ex-ship to Kuwait's Al-Zour LNG Terminal onboard QatarEnergys conventional, Q-Flex, and Q-Max LNG vessels, starting in January 2025.
The agreement was signed by Minister of State for Energy Affairs and President and CEO of QatarEnergy HE Eng Saad bin Sherida Al Kaabi, and Deputy Chairman and Chief Executive of KPC Shaikh Nawaf Saud Al-Nasir Al-Sabah.
The signing was held during a special ceremony held in Kuwait City and was witnessed by senior executives from KPC and QatarEnergy.
In remarks on this occasion, Eng Al Kaabi welcomed the signing of the agreement and said: "I am pleased to be in Kuwait, a country that is dear to our hearts, and to build a new long-term partnership between KPC and QatarEnergy, that constitutes a central element in supporting Kuwaits sustainability goals, particularly in the electricity generation sector. It also reflects our commitment to support the future needs of all our clients, foremost of which is KPC."
"Our bilateral relations continue to grow and achieve the aspirations and interests of our peoples under the wise leadership of HH the Amir Sheikh Tamim bin Hamad Al Thani and HE Amir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, which underlines the deep brotherly ties and the long-term partnership between Kuwait and Qatar," he added.
The new agreement is the second long-term LNG SPA with KPC, and is considered pivotal in further boosting bilateral trade between Qatar and Kuwait.