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Kuwait Petroleum plans loan for LNG terminal

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LNG Industry,

Reuters is reporting that Kuwait Integrated Petroleum Industries Company (KIPIC) plans to borrow up to US$2.6 billion, from banks and export credit agencies, to build a LNG import terminal.

KIPIC are owned by Kuwait Petroleum Corporation (KPC) who have not, as yet, released any comments regarding the loan.

The money will reportedly be used to develop the LNG terminal at Kuwait’s Al Zour complex, which also has a refinery and a petrochemical facility.

The terminal is expected to be used to meet domestic gas demand is predicted to begin operating by 2020.

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