Iraqi associated gas investment to reach 70% by the end of 2024

Shafaq News/ Iraqi associated gas investment projects will increase to nearly 70% by the end of 2024, Deputy Oil Minister for Gas Affairs, Ezzat Saber Ismail, announced on Wednesday.

During the inauguration of the second terminal for exporting condensates and liquefied gas at Umm Qasr Port in Basra, Ismail stated, "The terminal will provide flexibility in the export of liquefied gas and condensates, currently at 50 tons per month, with expectations to reach 80 tons per month by early 2025," adding, "As production rates rise, the exports could reach 125 tons per month."

Moreover, he confirmed that the ministry is implementing several strategic projects to invest in associated gas across various oil fields.

The inauguration was attended by several ministry figures, South Gas and Basrah Gas companies’ representatives, and Basra local government officials.

According to "Oil and Gas" magazine, Iraq ranks fifth among Arab countries possessing the largest natural gas reserves, with Qatar leading the list.

Globally, the country stands as the 54th largest producer, contributing 0.25% to global output, with the leading producers being the US, Russia, and Iran.