Kuwait signed a $16 billion lease-and-leaseback agreement with a consortium led by Blackstone, Brookfield and KKR, covering a 49% stake in a crude pipeline network spanning approximately 320 kilometers. The transaction, called Project Peregrine, is expected to generate $7.85 billion in upfront proceeds for Kuwait Petroleum Corporation, which retains 51% ownership and full operational control over a 20.5-year period. It represents the largest foreign direct investment in Kuwait’s history. The country is signaling its openness to international capital despite regional tensions and attacks targeting its infrastructure.
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