Home Industry Energy Kuwait Signs $3bn LNG Supply Deal With BP Kuwait Petroleum Corp (KPC) signed a $12 billion LNG supply deal with Royal Dutch Shell on Sunday. by Reuters May 13, 2014 Kuwait signed a five-year liquefied natural gas (LNG) supply deal with BP on Tuesday, worth an estimated $3 billion, as it seeks to meet rising energy demand to power air conditioning during scorching Gulf summers. Kuwait, a major OPEC oil producer, already signed a $12 billion LNG supply deal with Royal Dutch Shell on Sunday and will also import gas from fellow Gulf state Qatar. The BP deal, signed by state-run Kuwait Petroleum Corp (KPC), will help Kuwait run its power plants through the hottest time of the year. KPC expects Kuwait will import a total of around 2.5 million tonnes of LNG, natural gas frozen to a liquid for transport on tankers, per year over the next few years through such contracts, said Nasser al-Mudaf, head of the company’s international marketing division. He was refering to the deals with Shell, BP and state-run Qatargas. Kuwait began importing LNG in 2009. Over the previous four years it signed deals with Shell and Swiss-based trader Vitol to supply it during the peak power demand period from April to October. 0 Comments