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Kuwait engages in discussions with Qatar to establish new long-term LNG agreement
(MENAFN) Qatar energy is currently negotiating with Kuwait petroleum Corporation (KPC) to establish a new long-term agreement for the supply of liquefied natural gas (LNG), aimed at addressing the increasing demand for power generation in Kuwait. This potential deal marks a significant development in the energy sector, reflecting the growing need for reliable fuel sources to support energy requirements in the Gulf region.
Under the proposed agreement, Qatar would supply Kuwait with 3 million metric tons per annum (mtpa) of LNG. This substantial volume of seaborne fuel is intended to be delivered over a period of 15 years, beginning once Qatar's North Field project becomes operational. The North Field project is a major initiative expected to commence in 2026, which will enhance Qatar’s capacity to meet international energy demands.
The collaboration between Qatar Energy and KPC highlights the strategic partnership aimed at bolstering Kuwait's energy security and supporting its power generation needs. As the Gulf Arab state faces rising energy requirements, securing a stable and long-term supply of LNG from Qatar represents a crucial step in ensuring a reliable and continuous energy source.
Industry sources, as reported by Reuters, indicate that this deal is a key development in the broader context of regional energy cooperation. By leveraging Qatar's vast natural gas resources and KPC's energy infrastructure, both parties aim to strengthen their positions in the global energy market while addressing the evolving energy needs of Kuwait.
Under the proposed agreement, Qatar would supply Kuwait with 3 million metric tons per annum (mtpa) of LNG. This substantial volume of seaborne fuel is intended to be delivered over a period of 15 years, beginning once Qatar's North Field project becomes operational. The North Field project is a major initiative expected to commence in 2026, which will enhance Qatar’s capacity to meet international energy demands.
The collaboration between Qatar Energy and KPC highlights the strategic partnership aimed at bolstering Kuwait's energy security and supporting its power generation needs. As the Gulf Arab state faces rising energy requirements, securing a stable and long-term supply of LNG from Qatar represents a crucial step in ensuring a reliable and continuous energy source.
Industry sources, as reported by Reuters, indicate that this deal is a key development in the broader context of regional energy cooperation. By leveraging Qatar's vast natural gas resources and KPC's energy infrastructure, both parties aim to strengthen their positions in the global energy market while addressing the evolving energy needs of Kuwait.
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