KUWAIT: Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Sabah on Wednesday highlighted the corporation’s commitment to strengthening partnerships with leading Chinese companies in the global petrochemical sector. His remarks came during a ceremony in Yantai, China, marking the launch of a strategic partnership project between KPC’s subsidiary, Petrochemical Industries Company (PIC), and China’s Wanhua Chemical Group, alongside the signing of a new memorandum of understanding (MoU) — the largest Kuwaiti investment in China’s petrochemical industry.
“Today we celebrate not only PIC’s capital partnership but also the recently signed long-term liquefied natural gas (LNG) supply agreement with Wanhua,” Sheikh Nawaf said. “This agreement reflects our deep strategic alignment, ensuring reliable energy flows from Kuwait to China while creating value and security for both sides.” Sheikh Khaled Ahmed Al-Sabah, Managing Director of International Marketing at KPC, described the launch as a “new milestone in the long-standing relationship between Wanhua and PIC.” He noted that the cooperation, built over many years, has matured into a strategic partnership founded on trust, commitment, and shared vision. He also emphasized that the LNG supply agreement further strengthens collaboration and opens doors for future opportunities.
Nadia Al-Hajji, CEO of Petrochemicals, called the project a historic achievement and a cornerstone of the company’s international strategy. “This initiative enhances our global presence and deepens our cooperation with one of the world’s leading chemical companies,” she said.
She added that the project serves as a bridge linking Kuwait and China in a joint endeavor for prosperity, reflecting the dedication and efforts of teams from both countries in turning the vision into reality. The newly signed MoU, she explained, represents a major step in Kuwaiti-Chinese collaboration, paving the way for future projects grounded in innovation and sustainable growth. The agreement aims to broaden cooperation, explore innovative investment opportunities, and strengthen both parties’ global industrial leadership.
According to the statement, the partnership project is the largest of its kind in terms of investment volume and forms a key pillar in PIC’s international expansion strategy. The initiative is expected to enhance Kuwait’s presence in Asian and global markets while cementing the strategic relationship with Wanhua, one of the world’s most established chemical firms. Sheikh Nawaf concluded that the success of the project underscores the depth of bilateral relations between Kuwait and China, with the partnership serving as a model of international cooperation built on mutual respect and shared vision for sustainable development and prosperity. – KUNA
