Latest news with #ABCK
Zawya
5 days ago
- Business
- Zawya
AmCham Kuwait held Energy Roundtable Discussion with the U.S. Department of State
Kuwait City – The American Business Council – (ABCK-AmCham Kuwait) hosted an Energy Roundtable Discussion in collaboration with the U.S. Department of State, bringing together key industry stakeholders, financial institutions, and policymakers to explore Kuwait's evolving energy landscape, challenges, and investment opportunities. The roundtable focused on Kuwait's urgent need to reform its energy policies amid growing demand, rising production costs, and heavy subsidies that hinder private sector participation. With Kuwait recording the highest per capita energy consumption globally, and subsidizing electricity at just 1 cent per kilowatt-hour despite a production cost of 12 cents, the discussion emphasized the critical importance of developing a sustainable, market-based approach to energy pricing. Participants highlighted that Kuwait's energy demand is expected to triple by 2035, reaching 32–35 megawatts, which will require massive infrastructure investment. Currently, 400,000 barrels of oil per day are burned for electricity, making up 40% of the energy mix, with the rest primarily dependent on natural gas imported from Qatar. The roundtable also addressed Kuwait's ambition to increase oil production from just under 3 million to 4 million barrels per day, alongside a renewable energy goal of 15% by 2035, with 10% targeted from nuclear energy. The discussion introduced Small Modular Reactor (SMR) technology as a feasible solution to Kuwait's energy diversification, providing faster deployment, lower land use, and longer operational life cycles than conventional systems. Justin Friedman, Snr. Advisor for Commercial Competitiveness in Nuclear Energy in the ISNfrom the U.S. Department of State, focused on the potential broad role that nuclear energy could play in Kuwait's energy security, providing reliable electricity and supporting a wide range of industrial applications from petrochemical processing to water desalination. Anwar Almutlaq, Vice-President and Country Chairman Shell from Shell Kuwait and Alex Krunic, Snr. Advisor to the Chairman Commercial Bank (Tijari) Commercial Bank of Kuwait also showcased local efforts in reducing carbon emissions, expanding green bond portfolios, and scaling remote power solutions. A key outcome of the discussion was the call for policy and regulatory reforms, particularly: Establishing fixed offtake pricing frameworks to support private renewable energy investment; Reducing energy subsidies to reflect true production costs and promote efficiency; and Enabling SMR deployment for off-grid applications, desalination, and industrial hydrogen production. Participants emphasized the potential of SMRs in supporting Kuwait's summer energy needs, powering data centers, and reducing land footprint compared to solar installations. With nuclear energy gaining traction globally, the World Bank's announcement of increased financing for nuclear programs marks a pivotal opportunity for Kuwait to diversify and secure its energy future. AmCham Kuwait remains committed to supporting the country's energy transition by fostering strategic dialogue between public and private sectors and leveraging U.S. expertise and innovation in the region's energy ecosystem. About ABCK-AmCham Kuwait A non-profit organization operating since 1985, composed of Fortune 500 corporations, small and medium-sized companies, and prominent business leaders and entrepreneurs, both American and Kuwaiti. ABCK-AmCham Kuwait has acted as an advocate for American interests in Kuwait.
Kuwait Times
28-05-2025
- Politics
- Kuwait Times
US Embassy marks Memorial Day, hails US-Kuwait relations
KUWAIT: The US Embassy in Kuwait, in partnership with the American Business Council – Kuwait (ABCK), marked Memorial Day on Monday, with an evening that honored the sacrifices of US service members and celebrated the enduring US-Kuwait partnership. In her remarks, the US Ambassador to Kuwait Karen Sasahara paid tribute to American service members who gave their lives in defense of freedom, while also reaffirming the enduring strength of the US-Kuwait alliance. 'Our first duty is to remember their sacrifice, and our second is to live up to it — by keeping our country secure, strong and worthy of their trust,' she stated. The remarks highlighted the shared history between the US and Kuwait, particularly during the 1990 Gulf War when both nations' forces fought side by side to liberate Kuwait. The ambassador described this moment as the foundation of a partnership that continues to thrive through military cooperation, economic investment, and cultural exchange. Reaffirming America's commitment to a stable and secure Gulf, Sasahara praised Kuwait's leadership in hosting US forces, investing in American innovation and fostering educational and humanitarian collaboration. 'Our remembrance must guide action,' she said, urging deeper cooperation in missile defense, expanded bilateral trade and continued youth exchanges to preserve the legacy of freedom. Gunnery Sergeant Victor Buendia posted the colors to open the ceremony. US Air Force Colonel Matthew Johnson then offered brief remarks, reflecting on Memorial Day's significance and reaffirming the two nations' shared commitment to regional security and peace. The program featured a screening of an Iraq War documentary that presented first-hand accounts from US, coalition and Kuwaiti figures, underscoring three decades of close cooperation and the sacrifices made by service members stationed in Kuwait and the wider region. Senior Kuwaiti officials, Chief of Mission personnel and members of the ABCK Founder's Club attended the reception, reaffirming the broad scope of US-Kuwait ties, including defense, education, commercial, trade and cultural collaboration.
Arab Times
27-05-2025
- Politics
- Arab Times
US Embassy highlights enduring Kuwait alliance
KUWAIT CITY, May 27: The United States Embassy in Kuwait on Tuesday reaffirmed the robust strategic ties between the two countries and their shared commitment to regional security and stability. In a statement, the embassy said it hosted a Memorial Day event on Monday evening in collaboration with the American Business Council-Kuwait (ABCK). The event featured remarks by US Ambassador to Kuwait Karen Sasahara and US Air Force Colonel Matthew Johnson, both of whom emphasized the symbolic importance of Memorial Day and the enduring partnership between Kuwait and the United States. Ambassador Sasahara and Colonel Johnson highlighted the significance of the occasion in honoring the sacrifices made by American service members and reaffirming the joint dedication of both nations to peace and security in the region. The event included a documentary screening focusing on the Liberation of Kuwait from Iraqi occupation. The film featured firsthand accounts from American, coalition, and Kuwaiti participants, reflecting more than three decades of military cooperation and sacrifice in Kuwait and the wider Gulf region. Senior Kuwaiti officials, members of the US diplomatic mission, and representatives from ABCK attended the event, underscoring the strong bilateral relations that extend beyond defense to include education, commerce, and cultural exchange. The US Embassy's statement emphasized that the longstanding partnership between Kuwait and the United States continues to be a cornerstone of regional stability, strengthened through ongoing collaboration across multiple sectors.
Arab Times
27-05-2025
- Politics
- Arab Times
US Embassy highlights strength and growth of Kuwait-US strategic partnership
KUWAIT CITY, May 27: The United States Embassy in Kuwait on Tuesday reaffirmed the robust strategic ties between the two countries and their shared commitment to regional security and stability. In a statement, the embassy said it hosted a Memorial Day event on Monday evening in collaboration with the American Business Council-Kuwait (ABCK). The event featured remarks by US Ambassador to Kuwait Karen Sasahara and US Air Force Colonel Matthew Johnson, both of whom emphasized the symbolic importance of Memorial Day and the enduring partnership between Kuwait and the United States. Ambassador Sasahara and Colonel Johnson highlighted the significance of the occasion in honoring the sacrifices made by American service members and reaffirming the joint dedication of both nations to peace and security in the region. The event included a documentary screening focusing on the Liberation of Kuwait from Iraqi occupation. The film featured firsthand accounts from American, coalition, and Kuwaiti participants, reflecting more than three decades of military cooperation and sacrifice in Kuwait and the wider Gulf region. Senior Kuwaiti officials, members of the US diplomatic mission, and representatives from ABCK attended the event, underscoring the strong bilateral relations that extend beyond defense to include education, commerce, and cultural exchange. The US Embassy's statement emphasized that the longstanding partnership between Kuwait and the United States continues to be a cornerstone of regional stability, strengthened through ongoing collaboration across multiple sectors.
