Kuwait Integrated Petrochemical Industries Company (KIPIC) affirmed significance of the Liquefied Natural Gas Import Terminal Project for backing up the national oil sector. The LNG terminal output capacity is projected at some 3,000 billion thermal units (65,000 tons) per day.
The terminal at Al-Zor refinery will produce optimal type of natural gas and environmentally friendly fuel oil, said Mohammad Al-Gharabally, the head of the team tasked with performance at KIPIC. He was speaking at a seminar, organized by the company about the project.
KIPIC is currently conducting studies for a petrochemical complex, including the third olefins plant, the second aromatics plant and the petrochemicals' breaking unit. Moreover, it is seeking to design a petrochemical complex for producing other derivatives.
The Al-Zor LNG terminal is projected to have a refining capacity of 615,000 barrels per day, some 45 percent of the national refining capacity.
Main transactions for the project is made up of five packages at a total value of KD 4.87 billion (USD 15.9 billion), said Al-Gharabally, explaining that it will secure 225,000 barrels per day to cover needs of the country's power stations.
KIPIC, established in 2016, is a subsidiary company of Kuwait Petroleum Corporation (KPC). It was set up to follow up on establishing and operating the petrochemical refinery and import LNG import terminals in Al-Zor, a key venture in the national development strategy.