‘Total 19 imported liquefied gas freights received in 4 months’

KUWAIT CITY, June 22: Operations Manager at Kuwait National Petroleum Company’s Ahmadi Port Refinery Eng Fahad Al-Muteiri said the number of imported liquefied gas freights received within four months totaled 19.

In a press statement, Al-Muteiri disclosed the quantity of liquified gas which will be imported for the new season of 2017/2018 is more than 2.5 million cubic meters, explaining that the average import of liquefied gas is one or two freights per week.

He pointed out the capacity of each freight received at Ahmadi Port is about 130-150 cubic meters, indicating the importing process and liquefied gas pump are being implemented according to plan and the desired rate which covers the need of the Ministry of Electricity and Water.

On pumping gas into the Ministry of Electricity and Water’s network, Al-Muteiri informed that such process starts at the beginning of summer with small quantity of about 100 million cubic meters per day and then gradually increases until it reaches 720 million cubic meters per day during the peak of summer.

He revealed the peak months are during summer as the demand for liquefied gas increases starting from May until September, pointing out that the maximum liquefied gas processed from the freight to the receiving point of the port is about 750 million cubic meters daily.

Meanwhile, the insurance sector has been facing many obstacles for years, topped by fragmentation of monitoring and supervision due to the reluctance in establishment of an independent body that manages all the financial, technical and legal affairs of the insurance sector, reports Al-Shahed daily quoting informed sources.

They revealed that Kuwait Insurance Federation has been calling for the establishment of a specialized body for more than ten years, as the responsibilities related to supervision of the sector are still managed based on its previous status for more than 50 years as a result of the absence of a specialized body to manage it.

The sources indicated that one of the consequences facing the sector is working with the laws that have been issued for decades, in addition to the low insurance tariff because they have not been renewed for more than 25 years.