It was announced that both Shell and Vitol Group have signed 4 year contract to supply Kuwait with shipments of LNG which the region needs to fuel their power generators during the months of summer.
Both LNG suppliers will deliver a couple of shipments a month from April to October KPC’s international marketing manager has just recently confirmed at a Kuwait conference.
Shell is going to supply at least two cargoes in May with a possibility of a third and Vitol is contracted for at least one with the option of possibly supplying a second. These orders were verified at a recent conference although the prices to be paid for the LNG shipments were not disclosed and the only comment made in relation to cost is that it will be calculated according to delivery criteria.
Kuwait has just started receiving LNG shipments and now plans to use half a billion cubic feet of gas per day over the next six months. All this LNG is going to be used to fire its power stations according to a statement just made by Kuwait Petroleum on April the 22nd.
Excelerate Energy is currently supplying the vessel on which the Liquefied Natural Gas is being reheated to re-gasify it from its frozen liquid state and they have also successfully supplied the initial two cargoes. It has also been suggested that many other Gulf states are now also considering LNG for their expanding power and industrial fuel requirements.Andrew Reid, Staff Writer, Gulf Jobs Market News