Kuwait Ministry of Oil wins the scientific award of OPEC

Source: www.gulfoilandgas.com 5/22/2022, Location: Middle East

Sheikha Tamader Khaled Al-Ahmad Al-Jaber Al-Sabah: Kuwait is taking developments to increase domestic gas production to meet the growing domestic demand indicators of the global market LNG in 2021 • The World LNG market includes 21 exporters and 44 importer and ferry market From 700 tanks • Arab countries were issued 112 million liquefied gas and a global market share formed 29.5% • LNG trade achieved 7.4% in reference to the recovery of the global economy from the Corona pandemic repercussions • Kuwait's largest LNG market in the Middle East, 5.3 million tons in 2021 imported an engineering geometric icon and a global project and owns a variety of logistics services for future LNG applications such as ships supplies organized Public Relations Management at the Ministry of Oil LNG and hydrogen developments in 2021 present in which Engineer Wael Hamed Al-Muti, an Arab gas industries expert in Arab countries (OPEC). Wael explained that the LNG industry includes four stages of gas extraction and then asked him to a liquefied natural gas at 160 ° C and then transferred through the tankers to return the import and pump into the LAN. The highest cost-effective stage is about 50% of total investment costs required for the implementation of a smooth integrated project, while the reception and reusing phase in the imported country is about 8% of total investment costs. He also stressed that the World LNG market has developed significantly as its exporting number in 2021 reached 21 countries, while the number of imported markets reached 44 markets in the growing demand for gas and dependence as key fuel in the energy system, while the volume of the world fleet 700 tankers, mostly modern carriers not exceeding 6 to 10 years. The leading LNG countries, where Algeria was the world's first country, produced and exported since 1964 and then joined several Arab countries such as Libya and the UAE, Qatar, Oman, Egypt and recently, to rise to nominal productivity The Arab region is 138 million tons per year. On the highlight of global market indices in 2021, he said Arab countries had issued about 112 million liquefied gas tonnes and had a global market share of about 29.5% and that global LNG trade had grown an annual growth of 7.4%, referring to the global economy The repercussions of Corona, and the growing importance of gas as safe and sustainable fuel in meeting global demand. On the importance of imported markets, the Asian market leads the main market with a share of 73% of the total global trade, while the European market accounts for about 20%, and the Americas with a 5% and the Middle East share. The State of Kuwait has also become the largest LNG market in the Middle East after the operation of the fancy port of July 2021, which is an engineering icon and a universal project, a 3 billion cubic feet per day and a storage capacity of 1.8 million cubic meters Composites to provide a variety of LGS services in the future such as ships supply, noting that Kuwait imported about 5.3 million tons in 2021. During the first quarter of 2022, more than 0.8 million tons came from three Key destinations are the State of Qatar, which alone formed about 57% of the total imports, in addition to the UAE (13%) and Nigeria (30%). The contract signed by Kuwait Petroleum Foundation with Qatar Energy for Importing 3 million tons / LNG For 15 years, the implementation of 2022 contributes to the needs of the State of Kuwait in the future. On the part of gas prices in global markets, especially in particular, has seen unprecedented historical jumps due to scarcity and recently the Russian Ukrainian crisis, but in contrast limits the price-based pricing system based on the price of a price With Brent crude in long term contracts of price fluctuations currently experiencing the immediate market due to the stability of the oil market. Long-term contracts (15 years) ensure that supplies are safe, reliable and sustainable to customers, and provide revenues to exporting States to ensure that investments continue to be pumped into the development of the gas sector for contractual quantities. In the context of the Hydrogen, he said Arab states had been present and strongly in the global hydrogen scene and was able to advertise investment in a huge package of projects with a total of 38 projects, which came "a diverse portfolio" included projects to produce Hydrogen green and green, green (23 projects), and hydrogen production projects (9 projects) and 5 projects for hydrogen applications in land, sea and air transport. For its part, the Director of Public Relations and Media at the Ministry of Oil Sheikha Tamadur Khalid Al-Ahmad Al-Ahmad Al-Sabah in an intervention during the virtual discussion show that the State of Kuwait has developed a strategy for the expansion of natural gas in power and water stations, and to take the oil sector on The establishment of LNG import facilities, which has recently been completed in the Zor area, a maximum card is 3000 billion British thermal energy units and a total cost of US $ 2.93 billion. Kuwait is conducting developments to increase domestic gas production to meet the growing domestic demand. The Kuwait Oil Company is tuning to do so, and the Kuwait Gulf oil company is carrying out the brothers in Saudi Arabia to benefit from the big potential Enjoy the divided area between the two countries. The Ministry of Oil was represented by the Department of Public Relations and Information is keen to show the efforts of Kuwait and review the most important developments in the World Gas Market through specialists and experts to talk about the subject.

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