The Minister of Oil, Abdul Karim Luaibi [Abdul-Kareem Elaibi] told AKnews that the Iraqi government is considering projects similar to the Basra Gas Company.
It is noteworthy that Iraq is losing a billion cubic feet of gas per day, mostly in the south. The gas is being burnt off in great burning flares as Iraq’s antebellum hydrocarbon infrastructure cannot exploit the gas.
The gas produced is intended to be used in the local market to meet the growing demand for electricity and there is high possibility to export the surplus, with the Basra Gas Company is looking to spend more than $4 billion USD (4,500 billion IQD) on a liquid natural gas export facility.
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