Kuwait signs $16bn pipeline deal with Blackstone, Brookfield and KKR

Kuwait has signed an agreement to build a $16 billion pipeline with Blackstone, Brookfield and KKR.

Nawaf Saud Nasser Al-Sabah, Chief Executive Officer of Kuwait Petroleum Corporation, said in a statement that the Shaheen project represents the largest foreign direct investment in Kuwait’s history and a pivotal milestone in the country’s economic development.

He added that the project fulfills the commitment announced by Prime Minister Ahmed Abdullah Al-Ahmad Al-Sabah at the Kuwait Oil and Gas Exhibition in February 2026, which aims to attract leading global investors to participate in developing Kuwait’s strategic infrastructure, while maintaining full national ownership and operational control.

Al-Sabah continued, "We welcome Blackstone, Brookfield and KKR as long-term strategic partners in this historic deal, which reflects their confidence in the resilience of Kuwait’s economy, the quality of Kuwait Petroleum Corporation’s assets, and its long-term vision for the energy sector. This agreement also sends a clear message that Kuwait remains an attractive destination for global capital, even amid current regional challenges."

Pipelines are considered strategic alternatives that allow oil and gas to bypass the Strait of Hormuz by creating new transport corridors. However, these ambitious projects face challenges, according to Deutsche Welle.

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