Kuwait Petroleum Corporation (KPC) plans to have an 8% share in the capacity of the global liquefied natural gas (LNG) regasification industry through its new, planned and announced, projects between 2019-2023, according to GlobalData, Zawya reported citing TradeArabia.
A report issued by KPC, titled “H2 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – India Continues to Dominate Global Regasification Capacity Additions and Capex Spending” stated that KPC will have the highest regasification capacity globally, with 1.2 trillion cubic feet (tcf), by 2023.
Al-Zour LNG regasification terminal in Kuwait will be the main source for the additions to KPC’s regasification capacity, according to Adithya Rekha, the Oil and Gas Analyst at GlobalData.
“This planned offshore terminal is expected to start operations in 2020 with a capacity of 1.2 tcf,” she noted.
It is worth observing that India’s Hiranandani Group (H-Energy) comes second place after KPC in terms of highest global regasification capacity by 2023, adding around 717 billion cubic feet (bcf) through five terminals.