KUWAIT CITY(IAMINKUWAIT): Minister of Oil and Minister of Electricity and Water Khaled Al-Fadhel said yesterday that Kuwait will reach its highest rate of natural gas production in 2031/2032, estimated at 3.5 billion Standard Cubic Feet/Day. The remarks were made by CEO of Kuwait Petroleum Corporation (KPC) Hashem Al-Hashem, on behalf of minister Fadhel, during the 27th Annual Conference of the Gas Processing AssociationGCC Chapter held in Kuwait. He added that the future outlook for the rich gas development will be exposed to a great expansion in the near future when north Kuwait Jurassic fields will be fully operational by the year of 2023/2024, bringing Kuwait’s rich gas production up to three billion Standard Cubic Feet/Day (SCFD).
Meanwhile, KPC executed measures to facilitate expansion in production and achieving sustainable developments, including launching its promising 2040 strategy for the upstream exploration and downstream refining sector, Al-Hashem said. He noted that natural gas has always been a major factor of Kuwait’s economy as Kuwait has a long history of natural gas exploration and processing that goes back to the year of 1979 where Kuwait’s first gas processing complex was commissioned at Mina Al-Ahmadi refinery-KNPC. In line with KPC strategic plan to meet the long-term fuel requirements for Kuwait’s Growing Energy demand, Liquefied Natural Gas (LNG) 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, he said. The $2.9 billion project will consist of eight full containment tanks with a net capacity of 225,000 m3 and a max send out rate of 3,000 BBTU/Day, he added. LNG is “energy and environment in harmony,” and for that reason, it was chosen to be Kuwait’s major domestic fuel source for its economic feasibility as well as environmental friendly impact, said the CEO.
Fifth Gas train
Kuwait National Petroleum Company’s (KNPC) CEO Waleed Al-Bader said that the fifth Gas train is expected to be commissioned at the end of 2019 that will boost KNPC’s Gas processing nameplate capacity to 3.1 billion standard cubic feet per day (BSCFD). At his speech during the opening of the conference, Bader said that the aim of Ethane Recovery plant in 2008 is to supply the downstream petrochemical industry with the required ethane feed. KNPC has commissioned its fourth top of the art Cryogenic gas processing complex in 2015 with a capacity of 805 MMSCFD of gas, he added.
KNPC has a bright long history in the development of Gas industry in Kuwait, which started in 1979. KNPC has been and continues to be the sole Gas Processing sector in the nation of Kuwait under the umbrella of Kuwait Petroleum Corporation (KPC), Bader indicated. “Development of Kuwait Gas processing industry has continued in KNPC over the years by synchronization with the upstream gas exploration works, to bring to light many significant and strategic gas treatment and processing facilities such as Acid Gas removal unit in the year of 2000 to treat Kuwait sour Gas. Our outlook for rich gas processing based on KPC 2040 strategy where KNPC plays a significant role in its development representing the downstream sector,” he confirmed.
KNPC’s vision through the downstream 2040 strategy is to be a world-class refiner through superior operating performance by adding value to Kuwait’s hydrocarbon and meeting domestic as well as international market demand with the highest products quality possible. The domestic refining 2040 strategy objectives are to enabling higher gas production. KNPC is continuously developing and investing in its gas processing complex to meet the expected increase in Kuwait Gas production till 2040, which will require additional gas processing and treatment facilities to be built in the future such as a new LPG train and AGRP revamp project and operating KNPC Facilities to the highest operational standards.
Meanwhile, Gas Processors Association Chairperson-GCC Chapter Wadha Al-Khateeb said, GCC Chapter is hosting for the first time this conference, which will be an opportunity of fruitful discussions and share of knowledge. Khateeb said that Gas Processors Association has expanded through the years since its establishment in the nineties of the last century, where the number of its members reached 29 companies including gas manufacturers, suppliers and contractors. The number of work papers submitted to this year’s conference reached a high record of 209 papers, submitted by specialists from around the world, 54 papers selected and will be presented in two sessions. The conference program this year started two days ago with six technical workshops for the first time in the history of GCC chapter, she added.
|Kuwait gold daily market price in global currencies|
|Gold 18K||1 Gram||9.54||31.43||2171.84||0%|
|Gold 21K||1 Gram||11.13||36.66||2533.81||0%|
|Gold 22K||1 Gram||11.66||38.41||2654.47||0%|
|Gold 24K||1 Gram||12.73||41.93||2898.06||0.08%|