Gazprom, Kuwait Petroleum Sign LNG Memorandum

Gazprom and Kuwait Petroleum Corporation have agreed to cooperate in the field of LNG.

Alexey Miller, Chairman of the Gazprom Management Committee and Nizar Al-Adsani, Chief Executive Officer and Deputy Chairman of the Board of Directors of Kuwait Petroleum Corporation signed a Memorandum of Understanding in Sochi on Wednesday. The ceremony was held in the presence of Vladimir Putin, President of the Russian Federation and Sabah Al-Ahmed Al-Sabah, Emir of the State of Kuwait.

“The document outlines the main areas of potential partnership between the two companies, inter alia, in the area of LNG, LPG and other petroleum products as well as in the areas of sci-tech cooperation and investments,” Gazprom said.

State-owned Kuwait Petroleum Corporation (KPC) is focused on hydrocarbon exploration and production as well as processing and sales. In addition, the KPC activities include petrochemicals manufacturing and marketing as well as marine transportation of hydrocarbons.