Kuwait plans to raise production of non-associated gas to nearly 500 million standard cubic feet per day by end of 2018, Oil Minister Bakhit Al-Rashidi announced on Monday.
Kuwait consumption of natural gas is about 60 per cent for refining and petrochemical sector while the remaining 40 per cent for power generation sector, said the minister in his keynote speech at opening of the Fifth Kuwait Oil and Gas Conference and Exhibition.
“The execution of long-term strategy will enable the oil sector to move forward and adapt to the future successfully,'' Emirates news agency Wam quoted the minister as saying, citing Kuna.
"Hence, we can meet our share within the growing energy demand worldwide as a reliable producer and supplier of oil to the world, as well as maintain economic sustainability and prosperity for the state of Kuwait, enhancing and strengthening Kuwait Petroleum Corporation's future role and the Kuwait economy," said Al-Rashidi, also the Minister of Electricity and Water.
"We believe that the future expansion of energy demand requires timely investments in all forms of energy.
''Kuwait aspires to assure that it is fully committed to contribute to the security of supplies to the international markets through continuing investing in expanding its capacity," he added.
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