Kuwait to Inaugurate New Gas Pipeline End of 2019

Kuwait to Inaugurate New Gas Pipeline End of 2019
TT

Kuwait to Inaugurate New Gas Pipeline End of 2019

Kuwait to Inaugurate New Gas Pipeline End of 2019

The fifth gas pipeline will be operational end of the current year, expected Kuwait National Petroleum Company (KNPC) CEO Waleed al-Bader.

It is expected to contribute in boosting overall gas production to 3.1 billion cubic feet on a daily basis.

In his speech during the 27th Annual Conference of the Gas Processing Association-GCC Chapter on Tuesday, Bader stated that the production capacity of the fifth gas pipeline will reach 805 million cubic feet of gas daily.

In 2015, KNPC operated the fourth gas pipeline that employs the most advanced technology with an output capacity of 805 million cubic feet of gas daily, he added.

According to the 2040 strategy, KNPC’s vision stands for becoming a global pioneering firm via presenting a standing out operational performance, creating an added value to Kuwaiti hydrocarbon resources, and meeting the demand of the local and internal market.

The company seeks to develop and invest in the compound of producing gas to meet the increasing demand on Kuwaiti gas – this might require constructing and ensuring establishments and additional equipment to produce gas in the future.



Türkiye Works to Halt Circulation of Fake US Dollars

FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
TT

Türkiye Works to Halt Circulation of Fake US Dollars

FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo

Turkish authorities were checking currency exchanges and cash dispenser machines on Thursday to help avert any damage from the circulation of counterfeit US dollars, which has prompted a number of banks to stop accepting some of the bills.
The central bank said it was working with judicial authorities to address the counterfeiting issue and had shared a report and guidance with lenders after having examined the fake US banknotes, Reuters reported.
Though it was unclear how much counterfeit currency was in circulation across the country, several banking sources said that several foreign exchange offices and banks were no longer accepting some US dollars.
A source with knowledge of the matter said there were no related problems with the financial system.
Several banking sources have said some $50 bills and $100 bills are suspected of being counterfeit and are not currently detected by money-counting machines.
The Turkish Banking Association said these machines as well as cash dispenser machines, or ATMs, were being checked and updated to halt any further circulation of counterfeit bills.
The source said a planned rapid system-wide update to money-counting machines would make detection possible.
Separately, a prosecutor's office in Istanbul launched an investigation into the issue, broadcaster NTV reported.