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KNPC close to $900m gas plant deal

Kuwait City, June 6, 2010

Kuwait's state-run refining arm KNPC is close to signing a 260 million Kuwaiti dinars ($892.8 million) deal with South Korea's Daelim Industrial Co for a gas facility and pipeline, a KNPC spokesman said on Sunday.

The facility would have capacity to treat 850 million cubic feet per day (cfd) of natural gas, the spokesman said.   

The pipeline would pump liquefied petroleum gas (LPG) to Kuwait's largest refinery, the 460,000 barrels per day (bpd) Mina Al-Ahmadi plant, the spokesman said.

LPG is used as a cooking fuel, a feedstock for petrochemicals, and for blending in gasoline.

The Korean firm has submitted the lowest offer to develop the facility and Kuwait's central tenders committee is reviewing the bid, Assad Al-Saad, deputy chairman of KNPC was quoted as saying by local daily An-Nahar on Sunday.   

Kuwait, which is a member of the Organisation of the Petroleum Exporting Countries (Opec), is expanding domestic gas supply and infrastructure to meet rapidly rising demand from power and industry.  - Reuters




Tags: Kuwait | Daelim | KNPC |

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