Kuwait aims to open what will be the Middle East’s largest import terminal for liquefied natural gas in March, according to two people familiar with the project. The Al-Zour plant will allow Kuwait to receive 22 million tons of LNG (about 31 billion cubic meters) a year, almost doubling the region’s capacity. The LNG market is expected to grow quickly in the next few decades as countries shift from oil and coal to cleaner energy. The global trade in LNG will probably increase to more than 1,000 bcm annually by 2035 from roughly 425 bcm today, according to BP. Kuwait is one of the world’s biggest oil exporters, shipping almost 2 million barrels a day, but pumps relatively little gas. The OPEC member produced 18.4 bcm of gas in ...read more...
SectorOil & Gas