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Saturday, August 15, 2020

Kuwait Petroleum Corporation News

Image: Qatargas

Shell, Qatargas Sign LNG Deal for Kuwait

The world’s largest liquefied natural gas (LNG) producer Qatargas has signed a new, long-term LNG sale and purchase agreement (SPA) with Shell to deliver 1 million tons per annum of LNG to Kuwait, commencing this year.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs said, “We are pleased to announce this new long term agreement between Qatargas and Shell for the supply of LNG to the State of Kuwait, following the recent agreement signed between Qatar Petroleum and Kuwait Petroleum Corporation.

Lena River gas carrier. Photo: Gazprom

Gazprom to Cement LNG Ties with Kuwait

Russia-based energy company Gazprom has negotiated about supplies of liquefied natural gas (LNG)  to Kuwait, reports Tass. The talks continue in "a rather progressive mood,"during the the Energy Minister Alexander Novak’s visit to the Middle East country, the report said. However, it is too early yet to speak about finalizing them. Though Kuwait is satisfied with LNG supplies from Qatar, the parties continued the discussion on a long-term contract. Kuwait is building a new LNG terminal, which should be ready by 2020.

Saad Sherida al-Kaabi, Qatargas chairman. Photo: Qatar Liquefied Gas Company Limited-2 (Qatargas 2)

Qatargas in 4-Year Deal to Supply LNG to Kuwait

Qatargas and Kuwait Petroleum Corporation (KPC) have signed a deal to supply half a million tonnes of liquefied natural gas (LNG) to Kuwait over the next four years, according to a report. The LNG will be sourced from Qatargas 2, a joint venture among Qatar Petroleum, ExxonMobil and Total which started production in 2009, and will be delivered onboard Q-Flex LNG Vessels, chartered by Qatargas, to KPC’s Mina al-Ahmadi LNG receiving terminal in Kuwait. Qatargas has supplied Kuwait with most of its LNG requirements for the last five years…

Alan Olivier, the new Chairman and President of the UK P&I Club

Olivier Named UK Club Chairman

Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club’s Chairman for the past five years, having joined the board in 1996 in the shipping division. He held senior treasury and financial positions before his appointment as chief executive of Unicorn Shipping in 1995.

Wärtsilä to Supply Main Engines for Kuwait Oil Tanker

Wärtsilä's RT-flex common rail engine technology provides environmental benefits including low fuel consumption and reductions in exhaust emissions. The engine waste heat is utilized to produce onboard electricity. These features help maintaining and operating seaborne transportation in more economical and sustainable ways. Wärtsilä will supply the main engines for a series of vessels being built for Kuwait Oil Tanker Co. (KOTC), a Subsidiary of Kuwait Petroleum Corporation. Four VLCCs (Very Large Crude Oil Carriers)…

WSS Wins Contract with KOTC

Wilhelmsen Ships Service (WSS) Kuwait has recently won a major contract to provide support to the Kuwait Oil Tanker Company (KOTC). KOTC is a subsidiary of Kuwait Petroleum Corporation (KPC), which is the holding company integrating KOC, KNPC, KOTC and PIC under government control. It currently owns and operates 25 vessels which include crude, product, LPG and bunker carriers. Since KPC was established in 1980, KOTC assumed responsibility for transportation of its cargos between Europe, West Africa and Far East with Kuwait being the home port.