Kuwait signs gas deal with Qatar
– State-owned Kuwait Petroleum Corp yesterday signed a long-term contract with Qatar Petroleum to purchase three million tons of liquefied natural gas (LNG) per year, a statement said.
Kuwait, which is rich in oil but falls short in gas production, is currently importing 2.5 million tons of LNG per year from BP, Shell and Qatar Petroleum.
The agreement will run for 15 years, starting in 2022, when the new $3 billion (R42.8 billion) LNG receiving terminal at Al-Zour Port becomes operational.
Kuwait, which pumps 2.7 million barrels of crude oil per day, uses natural gas imports for power generation and the petrochemicals industry.