Kuwait to set up new firm to run Al-Zour refinery
2/1/2016 12:00:00 AM
DUBAI (Reuters) - Kuwait's National Petroleum Co. (KNPC) said on Sunday it will set up a new company to run its planned al-Zour refinery and petrochemical complex which, when built, will be the biggest in the Middle East.
The new company, KBRC, will also manage a planned permanent liquefied natural gas (LNG) import terminal, said KNPC CEO Mohammed al-Mutairi, according to comments on state news agency KUNA.
He said that setting up KBRC would allow the independent management of the projects under one structure.
Mutairi told Reuters in October that commissioning of the 615,000-bpd refinery was expected to start in November 2019. Contracts to build the 3 billion cubic feet/day LNG import terminal were expected to be awarded early this year.
(Reporting by Sylvia Westall; Editing by Andrew Bolton)
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