Fast Market Research

New Market Report: Kuwait Power Report Q3 2013

New Energy research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 08/14/2013 -- Kuwait is set to remain dependent almost exclusively on oil and gas for its energy needs for the foreseeable future. Plans to move towards nuclear energy have been largely abandoned, while renewable energy remains only a very minor segment of the country's energy mix. Much of the planned new generating capacity is gas-fired, with oil often used as a back-up fuel. The government's goal is to make more of the country's oil available for export, even if this leads to a growing reliance on imported gas. Building new capacity is likely to become an increasing priority in the years ahead, as power consumption runs up against available capacity. Nevertheless, extremely low domestic power prices mean that projects are unlikely to attract foreign investors, leaving Kuwait to go it alone in meeting its growing power demand.

Conventional thermal sources will remain the dominant fuel for electricity generation in the coming years. Following the Fukushima tragedy in 2011, Kuwait ordered the National Nuclear Energy Committee to be dissolved and abandoned its pursuit of nuclear power. However, the country is nevertheless aiming to reduce its domestic oil consumption in an effort to free up additional barrels for export, with many power projects that are planned or under construction set to use gas. The electricity and water ministry wishes to more than double generating and desalination capacity by 2017 and an estimated US$2.5bn is expected to be invested over the medium term to cater for the projected power demand until 2015. The government has also set ambitious targets with regard to the use of renewable energy, but there is a long way to go before renewables will play a major role in the country's energy mix. In addition, the construction of new power projects in Kuwait is regularly disrupted by bureaucratic delays, largely owing to a highly inefficient political system, which could pose significant problems for the sector down the line.

View Full Report Details and Table of Contents

Key trends and developments in the Kuwaiti electricity market:

- Over the 2013-2022 period, Kuwait's power generation is expected to increase by an annual average of 4.2%, reaching 88.7 terawatt hours (TWh). Gains in gas and oil-fired electricity are set to drive this growth, with other sources of energy unlikely to feature heavily over the medium term, despite ambitious government targets for the use of renewable energy.
- Following an estimated 5.2% increase in 2012 real GDP, BMI forecasts average annual growth of 3.6% between 2013 and 2022. The population is expected to rise from 2.89mn in 2012 to 3.52mn by 2022, with net power consumption to increase from an estimated 53.4TWh to 81.8TWh over the same period.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Browse all Energy research reports at Fast Market Research

You may also be interested in these related reports:

- Pakistan Power Report Q3 2013
- Global Power Survey 2013-2014 - Market Trends, Marketing Spend and Sales Strategies in the Global Power Industry
- Mexico Power Report Q3 2013
- Poland Power Report Q3 2013
- Argentina Power Report Q3 2013
- Turkey Power Report Q3 2013
- Global Power Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Power Industry
- China Power Report Q3 2013
- Kenya Power Report Q3 2013
- Malaysia Power Report Q3 2013