What oil? Kuwait signs $12 billion LNG deal with Shell

Published May 12th, 2014 - 03:55 GMT
Kuwait began importing LNG in 2009 and signed deals with Shell and Swiss-based trader Vitol to supply it from April to October, the period of peak power demand, for the last four years.
Kuwait began importing LNG in 2009 and signed deals with Shell and Swiss-based trader Vitol to supply it from April to October, the period of peak power demand, for the last four years.

Kuwait’s state oil group said on Sunday it would sign a six-year liquefied natural gas (LNG) supply deal with Royal Dutch Shell estimated at $12 billion (Dh44 billion) as the major oil exporter seeks to meet energy demands for the hot summer months.

It was not immediately clear if the contract was the same as an LNG supply deal between Kuwait Petroleum Corp and Shell reported last month in a Kuwaiti newspaper.

KPC officials were not immediately available for comment.

In a statement KPC said Oil Minister Ali Al Omair had received a delegation from Shell to sign the contract. It did not provide the volume of the super-cooled gas that would be supplied by Shell.


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