Kuwait Petroleum Corporation (KPC) and Qatar Petroleum finalized a long-term sale and purchase agreement (SPA).
Under the agreement, Qatar Petroleum will supply KPC with up to 3 million tons per annum (MTPA) of liquified natural gas (LNG). The delivery will begin in 2022 and will cover a 15-year period.
Chairman of KPC’s board commented, “The state of Kuwait is embarking on an ambitious path of economic growth, which requires cleaner energy sources such as natural gas that will contribute to reducing emissions and improving local air quality. Whilst KPC is working towards increasing local natural gas production, there remains a pressing need to secure imports of natural gas supplies.”
This SPA continues the existing relationship between the two companies for years to come.
