Marcopolis presents the Bahrain Report focused on the investments, doing business, economy and other topics featuring interviews with key executives and government officials. The sectors under review are industry, telecom, banking sector, ICT, investments and more.
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Due to limited supply of gas in the Kingdom of Bahrain, plans are underway to build a LNG terminal to reduce the dependence on the local production and to capitalize on the international prices.
Dr. Mohamed Al Khalifa, Chief Executive of Banagas, comments on the plans: "NOGA Holding company is the owner and they have different strategies and initiatives. More of this is just to try to explore to find more hydrocarbon sources. So they started with offshore and now with Tatweer, onshore, and the deep gas is another one. The last is if there are no more prospects at all, the LNG terminal is a key factor for importing gas."
He sees the terminal helping the industrial sector: " To be honest, I don’t know how this project is progressing but I think the idea is there. I don’t know if they are going ahead with it. We believe that it is a good solution for the future, especially for those companies which need more gas for development and so on. There are many small-scale companies but two or three big companies which need a huge quantity of gas of course in addition to the power utilization. This is the number one challenge in Bahrain and the rest I think we need for petrochemical, iron and steel plants, and other industries which will need large quantities of gas in the future. It’s not that big but we are talking about 500 million standard cubic feet per day which converted is not that much, but there’s nevertheless a need for it."