Study: Kuwait will lead LNG industry in the Middle East by 2022

Leading data and analytics company GlobalData says that Kuwait will have the highest regasification capacity addition in the Middle East and Africa between 2018 and 2022. Meanwhile, Nigeria is expected to have the highest liquefaction capacity addition in the region during the same period of time.

Between 2018 and 2022, 10 regasification terminals are expected to become operational in the region, and regasification capacity in the Middle East and Africa is expected to soar from 3,008 billion cubic feet (bcf) in 2017 to 5,895 bcf by 2022. Kuwait alone will have an additional capacity of 1071 bcf, and the country is expected to spend approximately $2.9 billion on developing upcoming regasification terminals in that time period.

“Kuwait is increasing its LNG regasification capacity to meet its growing domestic power demand," says Soorya Tejomoortula, Oil & Gas Analyst at GlobalData. "The country is grappling with chronic electricity shortages, which is threatening its economic development. The new LNG terminal will also generate business opportunities to the local companies and helps in promoting industrial growth in the country.”

Kuwait's Al-Zour terminal is expected to be the largest regasification terminal by capacity, at 1,071 bcf. It is set to come online by 2021 with an estimated capex of $3.3 billion.

Arabian Oil and Gas Contribution Time: 03-Sep-2018 06:26 (GMT)
Arabian Oil and Gas Last Update Time: 03-Sep-2018 06:26 (GMT)