“Gazprom” will be able to participate in the development of gas fields in Northern Kuwait, said the representative of the Kuwait Oil Company subsidiary of Kuwait Petroleum Corporation), who wishes to remain anonymous.
ABU DHABI, 12 Nov. Kuwait oil company (Kuwait Oil Company subsidiary of Kuwait Petroleum Corporation) hopes that Gazprom will be able to participate in the development of gas fields in Northern Kuwait, said the representative of the Kuwait Oil Company subsidiary of Kuwait Petroleum Corporation), who wishes to remain anonymous.
On Tuesday, Gazprom and Kuwait Petroleum Corporation signed a Memorandum of understanding on cooperation in the oil and gas sector. The parties agreed on cooperation in the sphere of LNG, liquefied hydrocarbon gases and other petroleum products, as well as in the field of scientific and technical cooperation and investment, the report said “Gazprom”.
Deliveries of liquefied natural gas (LNG), Gazprom in Kuwait don’t make sense because the country already imports sufficient volumes of LNG from Qatar and Iran, said the representative of the Kuwait Oil Company. “This agreement, particularly in the LNG sector, is political. From the point of view of the business of LNG supplies from Russia unprofitable to Kuwait, we import sufficient LNG volumes from Qatar, Iran,” — said the Agency interlocutor, adding that Kuwait will gradually reduce the volume of LNG imports.
At the same time, the country plans to increase natural gas production by 2.5 times by 2030 — from 1.5 billion cubic meters of gas per day in 2015 to 4 billion cubic meters of gas. “We plan to increase gas production in Northern Kuwait, Gazprom, as a company with great experience and capabilities that can help us in this from the point of view of technological cooperation and development of deposits”, — said the representative of Kuwait Oil Company.
He said that experts Kuwait Petroleum, Kuwait Oil and Gazprom will soon hold a meeting to discuss details of cooperation.
The state Kuwait Petroleum Corporation (KPC) is engaged in the exploration and production of hydrocarbons, their processing and marketing. In addition, the scope of KPC include the production and sales of petrochemicals, and marine transportation of hydrocarbons.
