The global and Arab liquefied gas industry has witnessed tremendous developments during the last period, represented by an increase in production and exports, the diversification of markets, the growth of the gas tanker fleet, and the development of commercial structures for projects.

Engineer Wael Hamed Abdel Moati, an OAPEC expert, spoke during his participation in a panel discussion entitled “The Liquefied Natural Gas Industry: Its Developments, Challenges, and Future Prospects,” about the importance of Al-Zour Port in Kuwait, as it is a unique model in the Middle East and North Africa region, with a gasification capacity equivalent to 3. Billions of cubic feet per day.

He pointed out that the port contributed to diversifying Kuwait's sources of gas supplies, by importing liquefied gas from several destinations. This enabled it to reduce expenses, improve the efficiency of power generation plants, and meet its clean energy needs.

Abdul Muti stressed that the Arab LNG tanker fleet constitutes a growing force in the global market. It accounts for about 12% of the total tonnage of the global fleet. Which enhances the position of Arab countries in the liquefied gas trade.

Abdul Muti expected that the size of the Arab liquefied gas tanker fleet would increase with the receipt of new ships under construction contracted by some Arab countries such as the UAE and Qatar.

Arab countries are among the largest exporters of liquefied gas globally. It accounts for 28% of the volume of global liquefied gas exports, which exceeded 112 million tons in 2023.

The number of markets importing liquefied gas reached 50 in 2023, with the Arab region emerging as one of the emerging markets in importing gas to cover demand at peak times, compensate for declining local production, or replace liquid fuel.