Kuwait Oil Tanker Company (KOTC) to launch LNG plant in April 2013.

The Kuwait Oil Tanker Company (KOTC)

The Kuwait Oil Tanker Company (KOTC) intends to launch in April 2013 a KWD 45.5 million ($189 million) LNG plant north of Kuwait.The new plant would have a capacity of filling 15 million (12kg) cylinders per year.

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The plant, to be located at the Umm Al-Eish area some 30 kilometers north of Kuwait city, is to service the domestic market until the year 2030. It is to be built over a 150,000 square meters area by a south Korean company.

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The Middle East sits on 40 percent of the world’s gas reserves and yet suffers from a supply shortage. The only country in the Gulf with gas to spare is Qatar. The rest of the region would burn more if it could.Most of the gas produced by both OPEC members is a by-product of oil output, so when they pump less crude, they pump less gas. Tight supply has been exacerbated by Saudi Arabia’s and Kuwait’s adherence to OPEC’s oil output curbs since December 2008.

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