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Kuwait in talks on importing gas from Iraq

Wednesday, Apr 06, 2011

Kuwait is in negotiations with international oil companies to import gas from Iraq, unidentified sources said in published remarks on Wednesday.

"Kuwait is not negotiating with the Iraqi government in this regard, but with International oil companies in Iraq that are developing oil and gas fields there," Kuwaiti newspaper al-Jarida cited one source as saying.

The sources told the paper that Kuwait hoped to start importing Iraqi gas in the next 12 to 18 months but that the amount it would purchase had not yet been determined.

The Gulf Arab state does not have enough natural gas to meet power demand and burns a large volume of oil products at power stations. Like its oil-exporting neighbours, Kuwait has been slow to develop its gas reserves to meet domestic demand.

Kuwait said last year it planned to produce more than 4 billion cubic feet per day (cfd) of gas by 2030.

On Tuesday, Hashim al-Rifai, Kuwait Petroleum Corp's planning director, said Kuwait had increased imports of liquefied natural gas (LNG) to help meet local demand. Rifai said the county will import 0.5 billion cfd of LNG from March to November this year.

A number of international energy firms are working in Iraq to redevelop the country's aging oil fields and expand natural gas production to help meet local power demand.

Source: Reuters

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