Energy giants reportedly ink agreements for liquefied natural gas over the next few years
Royal Dutch Shell and BP have signed deals to supply Kuwait with liquefied natural gas (LNG) over the next few years, a Kuwait Petroleum Corp (KPC) official was quoted as saying on Sunday.
Kuwait began importing LNG in 2009 and signed deals for Shell and Swiss-based trader Vitol to supply it during the peak power demand period from April to October over the last four summers.
Jamal Al-Loughani, deputy director of marketing at KPC, told the Kuwaiti Al-Seyassah newspaper that Shell andBP have been contracted to supply the OPEC member country over the next 5-6 summers.
He said the total volume of super-cooled gas to be delivered between the two companies would be around 2.5 million tonnes a year.
Kuwait will sign another contract to buy LNG from a third company later this week, he said, without elaborating.
Surging air conditioning demand in the hot Middle Eastern summer and a lack of domestic supply means Kuwaitneeds to import more gas each year to feed its power plants.
Kuwait needs LNG for replacing crude & light oil burning during summer ( from today ) power generations ....
The title says LPG this is not correct it should say LNG