one hour ago
The Kuwaiti oil minister Essam al-Marzouq, reached a preliminary agreement between his country and Baghdad on the price of Iraqi gas, which is scheduled to be supplied by Kuwait from Rumaila fields, in preparation for signing a final agreement.
Al-Marzouq told the newspaper that the Kuwaiti side is waiting for the final approval of the Iraqi government this week.
Iraq has appointed Toyo for Japanese engineering to help build a gas pipeline to Kuwait and a related petrochemical plant, as Baghdad seeks to curb the burning of gas that has lost millions of dollars for years of non-exploitation.
Iraq is working to complete the payment of the compensation due to it for the invasion of Kuwait in 1990.
Al-Marzouq added that the agreed quantities will be in the range of 50 million cubic feet per day, up to about 200 million after a period, and will last for ten years, adding that each party will cover the operating expenses for his part, expected to start the operation of the pipeline to transport gas by the end of next year.
Exports from Iraq's Rumaila field will pay $ 4.6 billion of the remaining war reparations.
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