Qatar Signs 15-Year LNG Supply Deal With Kuwait

QatarEnergy has entered into a 15-year LNG Sale and Purchase Agreement with Kuwait Petroleum Corporation (KPC). Under the agreement, Qatar will supply Kuwait with 3 million tons per annum of LNG for 15 years. The contracted LNG volumes will be delivered to Kuwait's Al-Zour LNG terminal starting January 2025.

The agreement was signed during a special ceremony held in Kuwait by the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Saad bin Sherida Al Kaabi, and the Deputy Chairman and Chief Executive of KPC, Shaikh Nawaf Saud Al-Nasir Al-Sabah. Qatar News Agency reported that the latest deal is the second long term agreement between Qatar and Kuwait. Notably, the move is considered pivotal in further enhancing the bilateral trade between both countries.

QatarEnergy, KPC sign 15-year agreement for the supply of up to 3 MTPA of LNG to Kuwait#QatarEnergy #YourEnergyTransitionPartner #Qatar pic.twitter.com/bNxLxsTkku

— QatarEnergy (@qatarenergy) August 26, 2024

In February 2024, Qatar announced a new expansion to the North Field project to increase the production from the LNG from 77 mt to 142 mt annually before the end of 2030. Notably, Qatar is one of the world’s top LNG producers.