NEXI signs MOC with Kuwait Petroleum Corporation (KPC)
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has concluded a memorandum of cooperation (MOC) with Kuwait Petroleum Corporation (KPC) of the state of Kuwait（Kuwait). The MOC was signed by Atsuo Kuroda, Chairman and CEO of NEXI, and Sheikh Nawaf Saud Nasir AlSabah, Deputy Chairman and Chief Executive Officer of KPC on March 31, 2022. The signing ceremony was held online and attended by Koichi Hagiuda; Minister of Economy, Trade and Industry and Dr. Mohammad Abdullateef AlFares; Deputy Prime Minister, Minister of Oil, Minister of State for Cabinet Affairs, and Chairman of the Board, Kuwait Petroleum Corporation.
Under the framework of this MOC, NEXI wishes to contribute to the expansion of Japanese companies’ business opportunities and advancement of Kuwait’s decarbonization. Furthermore, under the MOC, NEXI’s insurance covered loan to KPC is under discussion
As the conclusion of the MOC strengthens Japan’s relationship with Kuwait, a key partner in energy security, it is an accomplishment in line with NEXI’s LEAD Initiative.
Through advancing NEXI’s LEAD initiative and by establishing partnerships with foreign governments and companies, NEXI will continue to actively support the effort of the Japanese government to address its diplomatic/trade issues, to promote infrastructure exports, and to provide financial support for cooperation projects that will contribute to strengthen bilateral economic ties for Japan to secure resources in the future.
＜Key points of the MOC＞
- 1. Cooperation in expanding Japanese companies’ business opportunities in Kuwait and advancing decarbonization of the Country’s energy sector.
- 2. Discussions on energy-related projects contracted by Japanese companies and promotion of exports of Japanese goods to Kuwait.
- 3. Consideration of NEXI’s insurance covered loan to KPC.
MOC ceremony
＜Overview of KPC＞
Kuwait Petroleum Corporation（KPC）is Kuwait’s national petroleum company founded in 1980. KPC is responsible for the exploration, drilling, production, storage, refining, processing, transportation, distribution, and marketing of crude oil, natural gas, chemical and petrochemical and associated products. KPC owns eight subsidiaries operates domestically and internationally. For more information on KPC, please visit: https://www.kpc.com.kw/
Contact:
Natural Resources Group, Structured and Trade Finance Insurance Department
Telephone: +81-3-3512-7672