Can Kuwait free up oil & natural gas?

According to the International Energy Agency’s WEO-2018, worldwide, about a quarter of all electricity generation comes from renewables. Kuwait, like other countries in the GCC, is endowed with world-class solar and wind resources and is increasingly looking to tap this potential as a way to free up oil and natural gas for other uses.

How can Kuwait keep pace with rising demand for electricity?

Keeping pace with rising demand for electricity will be critical to Kuwait’s economic development, and reforms, such as opening up the power generation sector to independent power producers and independent water and power producers, are key to increasing the currently low share of private company involvement in the sector.

Is Kuwait a natural gas exporter or importer?

Today, Kuwait relies almost exclusively on oil products and natural gas to meet its energy needs, with each fuel accounting for about a half of total primary energy consumption. But while Kuwait is a major oil exporter, it is a net importer of liquefied natural gas, due to underdevelopment of its gas reserves.

Does Kuwait use oil to generate electricity?

Kuwait relies on oil and natural gas to generate electricity, with oil accounting for 64% of the generating capacity in 2015. Given Kuwait’s dependence on oil-export revenues, there are significant financial incentives to move away from burning oil for domestic power use.

Is Kuwait facing a changing energy world?

Kuwait, like all oil-producing countries, is facing a changing energy world today. Shifting supply, demand and technology trends have ushered in an energy world where oil-price volatility and market uncertainty are the defining features.

Does Kuwait need a new energy strategy?

To ensure economic development and social prosperity in the years to come, Kuwait will require a new energy strategy, combined with a plan to foster economic diversification and reduce fossil fuel dependency.