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Kuwait to sign $12 billion deal with Shell

Staff writer |
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.

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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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