Wednesday, July 30, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Qatar strikes another 15-year LNG supply deal with Kuwait

Simon Osuji by Simon Osuji
August 26, 2024
in Telecoms
0
Qatar strikes another 15-year LNG supply deal with Kuwait
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


KUWAIT – Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for 15 years, the second such deal since 2020 as Kuwait imports the fuel to help meet rising demand for power generation.

The chief executives of state-owned QatarEnergy and Kuwait Petroleum Corporation (KPC) signed the long-term sales and purchase agreement for LNG in Kuwait. Deliveries will start in January 2025, KPC CEO Sheikh Nawaf al-Sabah said.

Reuters reported last week that QatarEnergy and KPC were in talks for the deal.

Kuwait, an OPEC member and a major oil producer, has been boosting its reliance on imported gas to meet power demand, especially in the summer when consumption by air conditioning systems rises sharply. KPC also aims to ramp up its own gas output as part of a strategy that targets higher oil production capacity too.

Last week, Kuwait faced a second round of scheduled power outages this summer due to a lapse in local gas supply, despite officials indicating there would be no more cuts after the first round in June. Summer temperatures regularly soar above 50 degrees Celsius (122 degrees Fahrenheit).

Qatar this year announced a further expansion of its North Field project that will cement it as one of the world’s top LNG exporters. The project will boost the North Field’s LNG output to 142 mtpa from 77 mtpa by 2030.

The LNG from the new supply deal for Kuwait will partly be from the North Field expansion project and partly from Qatar’s existing output.

Kuwait and Qatar agreed in 2020 a 15-year deal for the supply of 3 mtpa of LNG from 2022, which will overlap with the new deal.

(Reporting by Ahmed Hagagy and Nayera Abdallah; writing by Yousef Saba; editing by Louise Heavens and Mark Potter)

 



Source link

Related posts

HIMSS partners with WHX Tech to advance digital health transformation in the Middle East

HIMSS partners with WHX Tech to advance digital health transformation in the Middle East

July 30, 2025
Kim Gan Enterprise Commemorates 24 Years in the Automotive and Industrial Supply Sector

Kim Gan Enterprise Commemorates 24 Years in the Automotive and Industrial Supply Sector

July 30, 2025
Previous Post

How politics in Nigeria damages the economy and leads to loss of lives – Ngozi Okonjo-Iweala

Next Post

Can You Change an Irrevocable Trust? Yes, But Be Careful

Next Post
Can You Change an Irrevocable Trust? Yes, But Be Careful

Can You Change an Irrevocable Trust? Yes, But Be Careful

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Google Pixel Event 2023: Pixel 8, Watch 2 and everything else we expect

Google Pixel Event 2023: Pixel 8, Watch 2 and everything else we expect

2 years ago
NIGCOMSAT and OneWeb partner for LEO connectivity in Nigeria

NIGCOMSAT and OneWeb partner for LEO connectivity in Nigeria

6 months ago
Dogecoin (DOGE) Price Prediction: August-End 2023

How High Can DOGE Surge This Week?

1 year ago
LASG to allocate housing units for workers through ballot

LASG to allocate housing units for workers through ballot

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.