Kuwait signs 15-year deal for Qatar gas supply
AFP | Kuwait City, Kuwait
The Daily Tribune - www.newsofbahrain.com
Kuwait's state oil giant yesterday announced a 15-year deal for the supply of natural gas from Qatar, without disclosing the cost of the agreement. QatarEnergy will supply three million tonnes of liquefied natural gas (LNG) a year under the deal, the Kuwait Petroleum Corporation (KPC) said in a statement.
"This second long-term agreement with QatarEnergy within a short period of time confirms our longstanding collaboration," KPC chief executive Sheikh Nawaf Saud Al-Sabah said.
Kuwait struck a similar deal with the state-owned Qatari energy firm in 2020. Sheikh Nawaf added that the deal would "provide a cleaner source of energy", in line with Kuwait's long-term strategy for energy transition.
Since mid-June, oil-rich Kuwait has imposed power rationing in several residential and industrial areas to cope with rising electricity consumption during the summer heat. Under the new deal, LNG deliveries to Kuwait's Al-Zour refinery are scheduled to begin in 2025, KPC said.
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