Kuwait Signs Protocol Agreement to Import Natural Gas From Qatar
KUWAIT CITY, January 30 (Xinhua) -- Kuwait signed on Wednesday a protocol agreement to import Qatari natural gas from the year 2005,Kuwait's official KUNA news agency reported.The agreement, which determines the executive procedures to supply Kuwait with Qatari gas, was signed in the Qatari capital of Doha by Kuwaiti Oil Minister Adel Khalid al-Subeih and Qatari Energy, Industry, Electricity and Water Minister Abdullah Bin Hamad al-Attiya.
After the signing ceremony, both ministers hailed the teamwork for this important achievement, which will provide Kuwait with Qatari gas via pipeline for 25 years starting from 2005.
Before the ceremony, Subeih told reporters that his country is in need of gas to fulfil the increasing demand of power, adding that the imported gas will mainly be used for electric power stations and some industries.
For his part, Attiya revealed that the cost of the project is about 2 billion U.S. dollars.
Qatar said earlier this month that it expects to sign a final sale-and-purchase agreement before June to supply gas to Kuwait as part of a plan to build a regional gas pipeline grid.
Last July, Kuwait signed a memorandum of understanding with Qatar to import gas from Qatar's giant North Field to mainly fuel local power stations.
Kuwait is initially expected to import 22.64 million cubic meters of gas a day from Qatar, which will eventually rise to 39.62 million cubic meters a day.
Qatar, whose gas reserves are estimated to account for 7.4 percent of the world's total, has invested tens of billions of dollars to cash in on its huge natural gas reserves, the third largest in the world after Russia and Iran.
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