Bermuda Firm’s Kuwait LNG Feasibility Study
A Bermuda-registered firm is one of three companies submitting a feasibility study to build a permanent floating liquid and natural gas [LNG] storage and regasification terminal in Kuwait.
The Kuwait National Petroleum Company says it hopes to commission the plant by 2017.
The permanent facility would replace a temporary floating LNG terminal at the Mina Al Ahmadi oil terminal and would not be a second regasification terminal.
Kuwait became the first Gulf country to start LNG imports, unloading its first cargo in August 2009.
Plans for a new terminal suggest that Kuwait will not be able to meet its rising gas needs by developing domestic reserves, which are largely tied to crude oil production.
“KNPC issued a tender October 21 for three pre-qualified companies to submit bids for a feasibility study to determine specifications and value and benefit of building a permanent liquefied natural gas storage and regasification terminal to replace the existing temporary one,” KNPC has said.
“We are fast-tracking this project.” he says.
Bids closed on December 2 and the contracts for the feasibility study were awarded.
KNPC identified the pre-qualified companies as: Bermuda-registered Golar LNG; Excelerate Energy of the US and Norway’s Hoegh LNG.
“We want to commission the project in 2017-2018,” said KNPC.
The new terminal’s capacity will be 550,000 million cubic feet per day [mmcfd], rising to 700,000 mmcfd at peak demand, which in Kuwait runs seven months of the year.
The existing terminal, which was built by Excelerate, has capacity of 500,000 mmcfd.
Golar LNG is liquefied natural gas shipping company based in London and registered in Bermuda. The company operates 13 LNG carriers and is listed on NASDAQ and is controlled by John Fredriksen.
