Gazprom and Kuwait Petroleum Corporation sign Memorandum of Understanding
RELEASE
Release
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 today. 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.
Nizar Al-Adsani, Sabah Al-Ahmed Al-Sabah, Vladimir Putin and Alexey Miller during signing
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.
Background
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.