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Qatar Petroleum, Kuwait Petroleum sign 15-year LNG supply deal

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Qatar Petroleum, Kuwait Petroleum sign 15-year LNG supply deal

State-owned Qatar Petroleum and Kuwait Petroleum Corp. entered into a 15-year sale and purchase agreement to supply Kuwait with 3 million tons of LNG per year, according to a Jan. 5 news release.

Under the deal, deliveries will start in 2022 and will be made to Kuwait's LNG receiving terminal at the Al-Zour port.

According to Qatar Petroleum, the agreement will support Kuwait's increasing energy needs, particularly in the power generation sector.

Financial details were not disclosed.