Kuwait Signs LNG Import Deal With Shell
Kuwait Signs LNG Import Deal With Shell

Kuwait Signs LNG Import Deal With Shell

Kuwait Signs LNG Import Deal With Shell

Kuwait Petroleum Corp. signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand. The sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020, the companies said on Sunday in an emailed statement, Bloomberg reported. Shell has supplied Kuwait with the super-cooled fuel since 2010 and declined to say how much gas is covered under the new contract. While KPC is working to boost local natural gas production, Kuwait has a pressing requirement to secure natural gas supplies in the meantime, they said. LNG could help meet Kuwait’s domestic demand for power to run air conditioners during hot summer months and cut the amount of crude oil burned instead of exporting it for profit. The contract will cover 2-3 million tons of LNG a year, priced at 11% below a Brent benchmark, a person familiar said, asking not to be identified because terms of the deal are private.


Short URL : https://goo.gl/CwHnst
  1. https://goo.gl/7WdRwY
  • https://goo.gl/1W2jg3
  • https://goo.gl/D5DcPp
  • https://goo.gl/ggJUvE
  • https://goo.gl/ge6Wtb

You can also read ...

China Shifts to Iranian Tankers to Keep Oil Flowing
Chinese buyers of Iranian oil are starting to shift their...
Large Oil Vessel Anchors in Chabahar
A large crude carrier with a capacity of 50 million liters of...
Replacement of France's Total Underway
Oil Minister Bijan Namdar Zanganeh said on Monday France’s...
Greek Island to Run on Wind and Solar Power
When the blades of its 800-kilowatt wind turbine start turning...
Vopak: More Volatility Expected in Oil Prices
A shipping revolution and a US plan to impose targeted crude...
Advantages, Challenges of Renewables Outlined
Saving water, creating sustainable jobs, curbing air pollution...
Plans to Expand Gas Pipelines by 1,000 Km 
Iranian Gas Engineering and Development Company plans to lay...
SP Oil Layer Loads 19th Cargo
The 19th batch of crude oil from South Pars Oil Layer in the...

Add new comment

Read our comment policy before posting your viewpoints