2014-02-07 23:15:03 - Kuwait Power Report Q1 2014 - a new market research report on companiesandmarkets.com
Gas-fired electricity generation will make up the bulk of Kuwait´s planned investment in new generating capacity over the coming years, with plans to move towards nuclear energy having been largely abandoned in the aftermath of the Fukushima disaster in Japan. Although oil currently accounts for a significant portion of the country´s electricity generation, it is the government´s goal to make more of its oil available for export, even if this leads to an increased reliance on imported gas. Building new capacity is likely to become a greater priority in the years ahead, as power consumption runs up against available capacity. However, extremely low domestic power prices mean projects are unlikely to attract foreign investors, forcing Kuwait to go it alone
in meeting its growing power demand.
Conventional thermal sources will remain the dominant fuel for electricity generation in the coming years.
Following the Fukushima tragedy in 2011, Kuwait ordered the National Nuclear Energy Committee to be dissolved and officially abandoned its pursuit of nuclear power. However, the country is nevertheless aiming to reduce its domestic oil consumption in an effort to free up additional barrels for export, with many power projects that are planned or under construction set to use gas.
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