Kuwait Secures Qatari LNG Amid New Power Demand Record

30 Aug 2024 Issue: 67 / 35 By: Yesar Al-Maleki

KPC has signed a major new LNG import deal with QatarEnergy to nearly double volumes to 7mn t/y from January. The power sector remains the largest driver of gas consumption, although Kuwait’s biggest problem remains lack of generation capacity.

Kuwait and Qatar further strengthened their energy ties this week when KPC signed up to import an additional 3mn t/y of Qatari LNG over 15 years from January 2025. The agreement near-doubles Kuwait’s contracted volumes with Qatar to 7mn t/y, supplementing an existing 3mn t/y 15-year agreement signed in 2020 and another 2020 deal Qatar signed with Shell to supply 1mn t/y to Kuwait for 15 years (MEES, 14 February 2020).

The agreement was signed by KPC CEO Sheikh Nawaf Al Sabah and QatarEnergy’s CEO Saad al-Kaabi in Kuwait City. Mr Kaabi says the new arrangement “constitutes a central element in supporting Kuwait’s sustainability goals particularly in the electricity generation sector.” Sheikh Nawaf highlighted LNG’s role in securing feedstock for Kuwait’s power sector, telling Qatar News Agency (QNA) that the volumes will help meet the increasing demand for electricity during the peak summer season. (CONTINUED - 970 WORDS)