FINANCIAL NEWS

Kuwait signs USD3b deal with BP

14 May 2014

(MENAFN) Kuwait”s state oil group has recently signed a deal with BP for liquefied natural gas (LNG) supply, according to Arab News.

The contract is a five-year deal, and worth USD3 billion.

Kuwait Petroleum Corp. (KPC) signed a USD12 billion LNG supply deal with Royal Dutch Shell earlier this week.

Nasser Al-Mudaf, head of KPC”s international marketing division, said that Kuwait is expected to import around 2.5 million tons of LNG per year over the next few years through such contracts.

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