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KUWAIT, Dec 17: Kuwait Integrated Petroleum Industries Company (KIPIC) announced Thursday it signed a KD-32.5-million (around USD 106 million) deal with Greek Hellenic Natural Gas System Operator S.A. (DESFA) to operate and maintain Al-Zour refinery, to launch its operations in summer of 2021.
A statement by KIPIC indicated that DESFA had a 50-year experience in this field. Deputy CEO of Al-Zour Refinery Hatem Al-Awadhi commended the deal, revealing that it will achieve the highest levels of operational security for the facility.
He expressed confidence that KIPIC will build strong relations with DESFA to create a solid and beneficial partnership. The natural gas importing facility will enable the reception of 22 million tons of gas annually, which will in turn provide enough clean fuel to current and future power stations.
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Korea Gas Corporation (South Korea)
Osaka Gas Company (Japan) / Toyo Engineering (Japan)
Enagas International (Spain) / Reganosa (Spain)
Prior to the Covid-19 outbreak, acting CEO of Kipic, Hatem al-Awadhi, said he was expecting phase one of Kuwait’s LNG import and regasification terminal to come online on 10 September 2020.
He said the second phase was due to be inaugurated on 12 February 2021.
The project has seen some delays due to the Covid-19 pandemic and it is not known to what extent plans to bring the terminal online will be disrupted.
Construction project
The main contract for the LNG terminal was awarded in 2016 to a consortium of South Korea’s Hyundai Engineering Company, Hyundai Engineering & Construction Company and Korea Gas Corporation for $2.93bn.