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FINANCIAL NEWS
Kuwait’s KNPC to increase natural gas capacity
25 Dec 2014
(MENAFN) Kuwait National Petroleum Company announced that it will raise its natural gas production capacity to more than two billion cubic feet a day after commissioning a new plant in the country, Gulf Daily News reported.
The company said that the new Liquefied Petroleum Gas plant, which will be known as LPG Train-4 and was constructed by Daelim, a South Korean firm, at a cost of USD900 million, will be capable of processing 22.8m cubic meters of gas and 106.000 barrels of other gas products daily,
Kuwait already has three smaller plants with a total capacity of 1.5 billion cubic feet, though all of their production is used in petrochemical manufacturing and to fuel power plants, leading Kuwait to need to import gas in the summer to meet an increased demand from power stations.
KNPC said that this plan is part of the country’s plans to increase production of natural gas in the near future, raising its daily output to 4 billion cubic feet by 2030, which also resulted in the country signing a technical service contract with petrochemical giant Shell to boost production from a number of gas fields in its northern region.
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