Bahrain’s first liquefied natural gas (LNG) regasification terminal has been completed, Oil Minister Sheikh Mohamed Al Khalifa announced on Sunday.
It houses a floating storage unit (FSU), an offshore LNG receiving jetty and breakwater, a regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility and an onshore nitrogen production facility.
The Kingdom may not need to import LNG after the reserves that have been recently explored in the Gulf of Bahrain field, Al Khalifa announced.
He revealed serious talks with the Gulf Cooperation Council, especially Saudi Arabia, to establish a network of gas pipelines to link Bahrain to the rest of the Gulf states.
This step will have positively impact the expansion of oil and industrial projects in Bahrain, he stressed during an online interview hosted by the US Chamber of Commerce in Bahrain to discuss the latest developments in Bahrain’s oil sector, in light of the global coronavirus outbreak.
He stressed Bahrain’s keenness to boost cooperation in this field with various partners to exchange ideas and expertise and learn about the latest developments in modern technologies to develop the oil, gas and energy sector in the Kingdom.
Al Khalifa said the pandemic has led to an unprecedented decrease in oil demand, leading to concern in the oil industry and development projects.
“On this basis, the Organization of Petroleum Exporting Countries (OPEC) adopted decisions during its last meeting in March to reduce oil production by 10 million barrels per day from May 1, for an initial period of two months.”
He expressed hope that the global pandemic will soon recede and the economy will flourish again.