Who owns Kuwait Energy plc?

Kuwait Energy plc (KE) is United Energy Group’s (UEG) subsidiary and has oil and gas assets in the Middle East and North Africa (MENA) region. KE was established in 2005 and acquired by UEG in March 2019. KE has built a high-quality, diversified portfolio of oil and gas assets across Iraq and Egypt.

Is Kuwait a laggard in the energy transition?

Kuwait, Opec’s fifth-largest oil producer but long a laggard in the energy transition, is taking steps to catch up with its neighbouring Gulf states and ease reliance on falling oil revenues.

Does Kuwait have oil and gas companies?

While Kuwait’s oil and gas sector is also home to non-government owned companies, their operations are largely outside of the country. For instance, Kuwait Energy is a subsidiary of Hong Kong-listed United Energy Group, which maintains exploration, development and production assets in Iraq, Egypt, Oman and Yemen.

Can international partners help Kuwait achieve energy transition goals?

“The local oil and gas industry is actively seeking to attract more international partners that can help the country achieve its energy transition goals,” Bader Nasser Al Khashti, chairman of the Kuwait Oil Tanker Company, told OBG.

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.

Should Kuwait reevaluate its power generation and desalination plans?

Environmental considerations, cost reductions in renewable energy technologies and higher than expected growth in electricity and water demand could persuade Kuwait to reevaluate its current expansion plans for the power generation and desalination sectors, particularly if MED and RO technologies prove to be more eficient and reliable.