Italy’s Snam sees decision soon on Kuwait LNG import plant

State-owned Kuwait Petroleum Corporation (KPC) is expected in a matter of weeks to select the winner of a tender to run a liquefied natural gas (LNG) import facility, the head of Italian gas grid group Snam said on Saturday.

The downstream arm of KPC has launched a tender to award a five-year contract for the operation and maintenance of an LNG import plant in the Al-Zour petrochemicals complex, roughly 90 kilometres south of Kuwait City.

Greek gas grid DESFA, which is 66% owned by a consortium led by Snam, has submitted a bid.

“It’s a very big plant, possibly the world’s third-largest. There has been a competitive process and our DESFA unit is taking part. We’re supporting it in any way we can, working also with our Spanish friends of Enagas,” Snam CEO Marco Alvera told reporters on the sidelines of the Ambrosetti business forum.

Enagas is part of the Snam-led consortium which bought a majority stake in DESFA from the Greek government in 2018.

“We expect to know soon the final outcome, in a matter of weeks. We keep our fingers crossed,” Alvera added.

The Ambrosetti conference held annually on the shores of Lake Como is the first major business gathering to take place in Italy after the easing of lockdown measures to contain the coronavirus emergency.

A source familiar with the matter said the value of the five-year contract was around 90 million euros ($106.54 million).
Source: Reuters (Reporting by Valentina Za Editing by James Drummond)

Leave A Reply

Your email address will not be published. Required fields are marked *