Gulf Oil and Gas accountACCOUNT

Kuwait LNG Imports to Rise 17 percent in 2015

Source: Reuters 12/4/2015, Location: Middle East

Share |
Kuwait liquefied natural gas (LNG) imports are on track to rise around 17 percent to 3 million tonnes in 2015, boosted by the fuel's increased competitiveness with gas oil, an executive from Kuwait Petroleum Corporation (KPC) said.

The Gulf Arab state imported around 2.5 million tonnes in 2014 via its floating import terminal, which it leases for the peak energy demand months from March to November, with an option to extend over additional months.

Speaking on the sidelines of the CWC World LNG Summit, Khaled Al-Sabah, manager for naphtha, mogas and LPG sales, said the option to extend the lease on the floating import terminal, due to expire in 2019, was being "explored".

This would be on top of the land-based LNG-terminal due to start in 2020. "The option to have both is still being studied," Al-Sabah said. "There is an ambitious plan to expand the power (capacity) in Kuwait."

Kuwait is a seasonal LNG importer, leasing a floating storage and regasification unit (FSRU) from Norwegian shipping company Golar LNG over the warmer months.

Al-Sabah said that the lease had been extended to the end of December this year and there was potential that it could be a full-year lease in future due to growing demand. "There is a plan under study that we might run all year long with one to two months annual maintenance."

The Middle East and North Africa have been one of the biggest growth markets for LNG demand in 2015, led by recent entrants Egypt and Jordan, with lower LNG prices helping stimulate offtake from new importers.

Natural Gas News in Kuwait >>

China >>  11/7/2018 - Natural gas prices are surging after a dramatic change to U.S. weather forecasts indicates that winter-like temperatures will grip much of the country...
United States >>  11/7/2018 - Sempra Energy (SRE) announced that its subsidiaries Infraestructura Energetica Nova S.A.B. de C.V. (IEnova) (IENOVA) and Sempra LNG & Midstream have s...

Russia >>  11/5/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took ...
Algeria >>  10/22/2018 - A partnership agreement was signed at Aval headquarters in Oran, between the company Helios (Sonatrach subsidiary) and the American group "Air Product...

China >>  10/18/2018 - ExxonMobil signed a framework agreement with China’s Zhejiang Energy on October 18 for the Chinese firm to supply liquefied natural gas (LNG) for Exxo...
Mozambique >>  10/16/2018 - Anadarko and our co-venturers in Area 1 are proud to report we have executed an LNG Sale and Purchase Agreement (SPA) with Tohoku Electric Power Compa...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.