Kuwait is one of the world’s top ten oil producers and holds the sixth largest proven oil reserves in the world.

With its relatively small population, Kuwait has a very prosperous economy, but it is heavily dependent on oil-export revenues. The oil sector accounts for about 90% of export revenues, and net oil-export revenues are approximately 40% of GDP. Kuwait, like all oil-producing countries, is facing a changing energy world today. Shifting supply, demand and technology trends have ushered in an energy world where oil-price volatility and market uncertainty are the defining features.

To ensure economic development and social prosperity in the years to come, Kuwait will require a new energy strategy, combined with a plan to foster economic diversification and reduce fossil fuel dependency.

Now is a particularly good time for an evaluation of Kuwait’s current energy situation and how energy demand and supply might, and could, evolve over the next two decades