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Kuwait LNG Imports to Rise

Kuwait LNG Imports to RiseKuwait LNG Imports to Rise

Kuwait's liquefied natural gas imports are on track to rise around 17% to 3 million tons in 2015, boosted by the fuel's increased competitiveness with diesel, an executive from Kuwait Petroleum Corporation said on Friday.

The Persian Gulf Arab state imported around 2.5 million tons 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, Trade Arabia reported.

Speaking on the sidelines of the CWC World LNG Summit, Khaled al-Sabah, manager for naphtha and LPG sales, said the option to extend the lease on the floating import terminal, due to expire in 2019, is 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," 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 from Norwegian shipping company Golar LNG over the warmer months.

Sabah said 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 region has 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.

Caption:

Kuwait imported 2.5 million tons of LNG in 2014.

 

Financialtribune.com