Kuwait to start importing 2.5M tons of LNG per year
Oil-rich Kuwait says it needs the fuel to power its electricity plants through the summer
KUWAIT CITY—Kuwait’s state oil company has signed deals to import 2.5 million tons of liquefied gas per year into the country to help power electricity plants during its scorching summer.
The state-run Kuwait News Agency (KUNA) reported April 7 that the deals involve BP PLC, Royal Dutch Shell PLC and Qatargas. It offered no financial terms for the deal, though the state-run Qatar News Agency said Qatargas’ agreement called for it to offer a half a million tons a year for four years.
KUNA said Kuwait needs the natural gas for summer time, when electricity use spikes from air conditioners. It said oil-rich Kuwait would be able to rely on its domestic production for the winter months.