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Kuwait National Petroleum Company (KNPC) has sanctioned plans to develop a KD1bn ($3.3bn) permanent LNG import terminal, according to the Kuwait News Agency (KUNA).
The facility at the Mina al-Ahmadi port will have a processing capacity of 1.5bn cfd of gas, with four storage tanks with a capacity of 180,000m3 each. There will be scope for the project’s send-out capacity to be expanded to 3bn cfd, with the potential addition of another four tankers.
Kuwait already imports LNG via a floating LNG facility at the Mina al-Ahmadi port, providing the flexibility to supply LNG during periods of high seasonal demand in summer. KNPC signed a five-year contract with Golar LNG to charter a floating storage and regasification unit (FSRU) in 2014. The floating unit has an import capacity of 7.9 bcm/year (760mn cfd, 5.6mn tons/year of LNG), with a 170,000m3 storage capacity. The contract is worth $213mn, covering both capital investment and operations. It expires in 2019, just before imports from the future, land-based facility are expected to begin. (CONTINUED - 376 WORDS)