While Kuwait is a large producer of oil and gas, the country faces a challenge in meeting a growing demand of gas. Gas production is around 11 bcm (1060 mmcfd) but further volumes need to be imported as gas is an important fuel in the power sector as well as a feedstock for the petrochemical sector. Gas-fired generation is expected to rise as Kuwait tries to tackle power shortages and increase installed generation capacity.
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Due to their sensitivity to political events and the global economy, energy demand and trade remain extremely volatile. The rapidly changing cost environment for hydrocarbon production and renewable energy, combined with energy policy changes, means the fuel mix in energy markets can be unpredictable at best. Further complicating the outlook is the transition and pace of the energy-intensive developing world from industrial to services-based economic growth, supporting the growing need for power generation.
This Energy Markets Long Term Outlook report provides a multi-fuel supply and demand forecast supported by a breakdown of the key facts.
Companies involved in all sectors of the energy industry can use this long term outlook report to assess inter-fuel dynamics and market drivers for strategic planning and investment opportunities. Use it to understand supply and demand fundamentals across hydrocarbon and renewables.
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Kuwait's energy demand in the transport sector is currently entirely met by oil products. Gasoline is the dominant transportation fuel with diesel and jet kerosene making up smaller portions of Kuwait's fuel demand for transportation. The number of cars has doubled over the past decade and reached 13 million in 2013. Rising incomes have supported higher rates of car ownership in Kuwait and subsidised fuel prices have contributed to high fuel use per vehicle. Although the number of cars is projected to almost double again until the end of the forecast period, efficiency gains, slower GDP growth and the anticipated removal/reduction of fuel subsidies will reduce future gasoline demand growth until 2035.
Residential, commercial and agricultural (RCA)
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Commodity market report | Feb 2014
Kuwait energy markets outlook 2014 - overview
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