‘KOC needs to keep in check gas import rise’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

‘KOC needs to keep in check gas import rise’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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KUWAIT CITY, Oct 4: The Gulf Cooperation Council (GCC) countries have witnessed an annual growth rate in gas imports of 9.8 percent since 2011 and with the global energy prices rising in the past two months, natural gas imports have become a growing concern, reports Al-Jarida daily. On the local level, Khaled Al-Otaibi, acting CEO of Kuwait Oil Company (KOC), announced last September the company aim was to increase natural gas production to meet local demand.

The announcement came amid rising natural gas imports in Kuwait and rising gas prices globally. According to MEED, Kuwait imported 7.7 billion cubic meters of natural gas in 2021, according to information provided by the UK energy producer BP. This is 35.5 percent more than it imported in the previous year.