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Kuwait to sign $12 billion deal with Shell

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Staff writer ▼ | May 19, 2014
Kuwait's state oil group said 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.
Kuwait Shell
Kuwait ShellKuwait's state oil group said 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.


žIt 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. Kuwait wants to burn LNG instead of resorting to diesel and crude oil, which have higher harmful emissions, KPC added.


 

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