Kuwait in deal to import 2.5 million tons of liquefied gas
Posted April 07, 2016 7:00 am
KUWAIT CITY (AP) - 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 reported Thursday 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 needed 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.
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