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Foreign Minister: The associated gas burned is equal to the amount it imported from Iran
Monday 20 February 2023 13:41 | Economical Number of readings: 455
Baghdad / NINA / - Deputy Prime Minister, Foreign Minister Hussein Fouad confirmed today, Monday, that the associated gas burned in the country is equal to the amount it imported from Iran.
Hussein said in a press conference after his return with a high-ranking delegation from a visit to the United States of America,
"The associated gas that is burned in the oil wells is equal to the same amount of gas imported from the Iranian side." Hussein added,
"Three major power plants depend on Iranian gas."
Iraq, which has a production capacity of 4.5 million barrels per day, mainly produces gas associated with oil, and the Basra Gas Company processes about 30% of the gas produced in Iraq,
however, Iraq is still the second largest country in the world in terms of gas flaring after Russia, according to the World Bank.
According to preliminary estimates of the Ministry of Oil, Iraq has reserves estimated at 132 trillion cubic feet of gas, as about 70% of Iraqi gas is associated gas to extract oil for treatment, and Iraq ranks 11th among the countries in the world rich in natural gas.
Iraq signed an agreement with the French company Total to treat 600 million standard cubic feet of "Maqqam" at a cost of $3 billion.
Iraq relies on Iranian gas to operate electric power plants, while the Ministry of Electricity estimated that the period of Iraq's need for Iranian gas ranges between 5-10 years.
Iran recently reduced gas exports to Iraq after Iraq was late in paying its dues, before Iraq announced in June 2022 that it had paid $1.6 billion to Iran for gas imported from it. / End 8
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