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LNG import to become Kuwait’s fuel source – KPC

LNG import to become Kuwait’s fuel source – KPC
Jurassic gas fields’ value is worth $2.9 billion

Mubasher: Kuwait has plans to endorse its natural gas production capacity to become 3.5 billion standard cubic feet (scf) per day by 2031-2032 instead of the current 1.9 billion scf, CEO of the Kuwait Petroleum Corporation (KPC) Hashim Hashim said on Tuesday, according to Reuters.

"LNG (liquefied natural gas) import will predominantly be the major source of fuel in Kuwait where Kuwait's giant LNG terminal project is coming in the year of 2022 at Al-Zour," the CEO stated, Reuters reported.

By 2023-2024, Kuwait's Jurassic gas fields project is expected to become fully operational and would increase gas production in Kuwait up to 3 billion scf per day, he noted, according to Reuters.

Jurassic gas fields’ value is worth $2.9 billion with an estimated net capacity of 225,000 cubic metres, the CEO added.

“KPC has been seeking LNG cargoes for delivery in March and April, industry sources have said,” according to Reuters.