Report

rss

Iraq News

Kurdistan

Economy

World

All News

Contracts with "Total" for gas megaprojects are in the final stages, Ministry of Oil says

Category: Economy

Date: 2021-06-19T18:12:29+0000
Contracts with "Total" for gas megaprojects are in the final stages, Ministry of Oil says

Shafaq News/ Iraq and Total expect to finalize a contract soon to implement energy megaprojects to ramp up gas production and end flaring, according to the Ministry of Oil.

"The administration of the Basra and the south oil companies and the relevant departments in the Ministry are putting the final touches to the proposed project scheduled to be signed in the upcoming period," a statement of the Ministry of Oil said.

The Minister of Oil, Ihsan Abdul-Jabbar, said, "these projects are a priority in the Ministry's plans for an optimal investment of flared gas and upholding the infrastructure."

The US is pressuring Iraq to produce more gas to reduce its dependence on Iran for gas and electricity imports. Iraq has received waivers to continue to import Iranian energy since the US imposed sanctions on Tehran in 2018, but these waivers are temporary.

Iraq’s problem is that most of the gas it produces is associated gas from produced oil, and that associated gas is currently being flared. Iraq is second only to Russia in gas flaring, having burned nearly 18 Bcm (632 Bcf) in 2019, according to a World Bank study published in July 2020.

Iraq plans to capture an additional 1.2 Bcf/D of flared gas by the end of 2023, the deputy oil minister said in October, as the country attempts to meet rising demand for gas to produce electricity and lower its carbon emissions, S&P Global reported.

This is where the partnership with Total, and perhaps other majors as well, comes into play.

related

Iraq aims to invest 2.6 billion cubic feet of gas by 2026

Date: 2021-10-25 13:17:49
Iraq aims to invest 2.6 billion cubic feet of gas by 2026

Sinopec expects Q4 sales prices for natural gas to rise 20%

Date: 2021-10-29 10:42:24
Sinopec expects Q4 sales prices for natural gas to rise 20%

Iraq eyes ending gas flaring by 2027, as it courts IOCs to capture associated output

Date: 2021-11-23 07:07:43
Iraq eyes ending gas flaring by 2027, as it courts IOCs to capture associated output

Iraq publishes its monthly gas production

Date: 2020-09-30 07:18:18
Iraq publishes its monthly gas production

Iraq publishes its gas production in November

Date: 2020-12-31 10:10:20
Iraq publishes its gas production in November

Iraq imports 20billions of gas while wasting 18billions annually, MP says

Date: 2021-02-11 09:50:06
Iraq imports 20billions of gas while wasting 18billions annually, MP says

Iraq publishes its gas production in February

Date: 2021-04-03 09:36:55
Iraq publishes its gas production in February

Iraq is the world's second top gas flaring country, WB says

Date: 2021-07-24 07:57:11
Iraq is the world's second top gas flaring country, WB says