economy |Yesterday, 16:29 |
Baghdad today - Baghdad
Today, Sunday, the expert on oil affairs, Kovind Sherwani, revealed Iraq's reserves of natural gas and the importance of investing it during the next stage. Sherwani told (Baghdad Today) that
"Iraq has huge reserves of natural gas amounting to more than 130 trillion cubic feet," pointing out that
"production is very little, and
therefore Iraq needs to import more Iranian gas despite the existence of this large reserve." very". He added,
"The completion of some gas investment projects brings Iraq, and during the next two years, to the stage of self-sufficiency in gas," stressing that
"this step will save billions of dollars for the state treasury, which makes Iraq able to operate all its basic electrical stations." And he indicated that
"although Iraq ranks 11th in the size of its gas reserves, it still imports it, and
this is an indication of mismanagement in the gas file over the past years, with the presence of influential parties that impede any development in the natural gas investment file."
And on increasing oil production, the expert on oil affairs confirmed that
"there is a real tendency for Iraq to increase oil production," especially since
"Iraq relies entirely on selling oil to finance its budget." He concluded by saying,
"Iraq would like to increase its production in order to increase exports in the coming years," noting that
"the current reduction in exports is temporary and for a specific stage."
Iraq relies on Iranian gas to operate electric power plants, and the former Iraqi Minister of Electricity, Adel Karim, had confirmed the need for Iranian gas for a period between 5 and 10 years.
For his part, Iranian Oil Minister Javad Oji announced the extension of his country's gas exports to Iraq for the next five years, after the arrival of gas was delayed for more than two months, due to "gas pipeline maintenance," which led to a reduction in Iran's gas exports to Iraq.
And Prime Minister Muhammad Shia'a al-Sudani had previously confirmed that Iraq would depend on associated gas to provide the internal need for gas used in generating electric power.
[You must be registered and logged in to see this link.]