Friday 22 June 2018

Shell, BP sign Kuwait LNG supply deals

Kuwait, April 13, 2014

Royal Dutch Shell and BP have signed deals to supply Kuwait with liquefied natural gas (LNG) over the next few years, a Kuwait Petroleum Corporation (KPC) official was quoted as saying on Sunday.

Kuwait began importing LNG in 2009 and signed deals for Shell and Swiss-based trader Vitol to supply it during the peak power demand period from April to October over the last four summers.

Jamal Al-Loughani, deputy director of marketing at KPC, told the Kuwaiti Al-Seyassah newspaper that Shell and BP have been contracted to supply the Opec member country over the next 5-6 summers.

He said the total volume of super-cooled gas to be delivered between the two companies would be around 2.5 million tonnes a year.

Kuwait will sign another contract to buy LNG from a third company later this week, he said, without elaborating.

Surging air conditioning demand in the hot Middle Eastern summer and a lack of domestic supply means Kuwait needs to import more gas each year to feed its power plants. - Reuters

Tags: BP | Shell | LNG | Kuwait |

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