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Despite record LNG imports, Kuwaiti oil burn has stayed resilient in 2022 amid record electricity generation. High spot LNG prices have deterred Kuwait from phasing out oil burn entirely, while Russian LNG and fuel oil exports to Kuwait have increased.
Kuwait’s power generation figures hit fresh all-time highs in July as temperatures hit 50°C during the middle of the month. Although peak load fell from the previous month (and year-on-year), consistently high electricity consumption ensured that total generation surged to a new monthly record.
Total electricity generation of 99.1TWh for July edged out the previous record of 98.5TWh set in July 2021. Although peak load of 15.60GW was slightly down from July 2021’s 15.67GW, the minimum load of 11.13GW was significantly higher than July 2021’s 10.71GW, indicating more consistently high electricity generation through the month.
Source: mees
