economy |Yesterday, 16:45 |
Baghdad today - follow-up
Iraq came in the tenth place in the list of the most Arab countries producing natural gas during 2022, as
Iraq’s production increased during the past year to 9.4 billion cubic meters, compared to 9.1 billion cubic meters in 2021.
And the list of the most Arab countries producing natural gas during 2022 shows that Qatar and Saudi Arabia came to the fore, followed by Algeria in third place, Egypt fourth, and the UAE fifth, while the Sultanate of Oman came in sixth place, Bahrain seventh, Libya eighth, and Kuwait ninth, with Iraq at the bottom of the list..
Although it is among the most Arab countries producing natural gas,
Iraq is one of the importers of natural gas, as production is not sufficient for domestic consumption,
which has negative effects on the country's electricity sector, which depends on that fossil fuel.
In June 2023, Iraq launched the sixth round of licensing for oil and gas exploration in 11 promising gas exploration blocks.
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 gas associated with oil extraction for treatment, and
Iraq ranks 11th among the world's countries rich in natural gas.
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.
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