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Gas investment...a quantum leap in Iraq's export capabilities during 2025
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Saturday 26 February 2022 10:14
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Iraq intends to enhance its capabilities to invest in natural gas (AFP)
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[You must be registered and logged in to see this link.] intends to invest free and associated natural gas in its fields, which will enhance its capabilities to export liquefied gas (LPG) and heavy drops of gas, and accelerate its programs aimed at substituting gas as a fuel to produce electric power instead of liquid fuel.
late industry
Although the [You must be registered and logged in to see this link.] Minister, Ihsan Abdul-Jabbar, described gas investment as a "late industry" in Iraq, the Iraqi minister asserts that the French "Total" company will build four giant projects to produce electric power in the oil-rich province of Basra, in the far south of the country.
During his speech at the Sixth Summit of the Gas Exporting Countries Forum, which was held in the Qatari capital, Doha last Tuesday, under the slogan “Natural Gas, Drawing the Future of Energy”, the Minister of Oil stressed investing in gas, which guarantees a significant improvement in the outputs of electric power production and a reduction in harmful emissions to the environment. . In this context, Iraq has committed to financing major project plans with its partners in the Basra Gas Company, and its anticipated projects with the rest of the major companies.
He said that the convening of this forum coincides with a sensitive and important stage witnessed by the global energy sector, and the accompanying instability and uncertainty in determining investment paths in light of the plans and programs of the transition towards clean energy, in addition to the great challenge facing the world, represented in balancing between enhancing energy security Global energy and the eradication of energy poverty, in line with the increasing global demand for it, especially in the phase of recovery from the repercussions of “Covid 19”, as it represents a mainstay in the growth of the global economy, and on the other hand, the commitment of countries to implement the requirements to reduce climate change and reduce greenhouse gas emissions. in accordance with United Nations conventions.
The Iraqi minister also stressed Iraq's continued support for the efforts of the Gas Exporting Countries Forum to enhance the forum's position in the global energy sector, and its importance, which stems from being a platform for exchanging experiences, enhancing technical and technical cooperation between countries, and developing expertise and joint projects.
He added that Iraq is proceeding with a national effort to increase reliability in calculating the reserve storage of free gas in the desert of western Iraq, which will constitute a qualitative leap in Iraq's export capabilities for liquefied gas and other drops during the year 2025, and end the use of liquid fuels in the production of electric power, especially as Iraq is coming On the need to secure about 50 thousand megawatts of energy to cover the large population growth.
late industry
Abdul-Jabbar described, earlier, investment in the field of gas as a "late industry" in Iraq.
He said in a press statement, "Investment in the field of gas is a lagging industry in Iraq, as it always tends to invest its money in quick-return projects," noting that "the process of disbursement on [You must be registered and logged in to see this link.] can be returned within two months, while the process of disbursement on gas facilities is completed." Return it after seven years.
He added, "The ministry, in partnership with Shell, established the Basra Gas Company (BGC), consisting of (Shell), (Mitsubishi) and the South Gas Company, noting that "the company has achieved successes and transformed Iraq from an importer to an exporter of some products." ".
He also indicated that "the steps after the Basra Gas Company were timid, and the biggest step after that is (BGC), which is the ministry's contract with the French Total to invest in the field of gas fields," adding, "The company will build four giant energy projects in Basra Governorate." This will enable local residents to obtain electricity through a more sustainable use of the country's natural resources, and reduce gas flaring.
Iraq has huge reserves of oil and gas, and is the second country in the Organization of Petroleum Exporting Countries (OPEC), and oil accounts for more than 90 percent of its revenues, but it is facing a severe energy crisis and suffers from continuous power outages, and it imports dry gas from Iran to operate its electrical stations.
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Iraq's current production of natural gas is about 2.7 billion cubic feet.
According to previous estimates, Iraq has a stockpile of 132 trillion cubic feet of gas, 700 billion cubic feet of which were burned, as a result of the poor ability to exploit it.
Iraq still imports gas from [You must be registered and logged in to see this link.] , through two pipelines, at a rate of about 20 million cubic feet per day, to operate the country's electric power plants, while the country's need is about 70 million cubic feet per day.
Gas investment in Halfaya field
The Iraqi Ministry of Oil had announced earlier, the completion of 51 percent of the gas investment project associated with oil operations in the Halfaya field in Maysan Governorate.
The project aims to invest 300 bottles (one million standard cubic feet per day).
Ali Jassim, Director General of the Maysan Oil Company, said in a press statement, "This achievement comes within the framework of the efforts and plans of the Ministry of Oil and the Iraqi National Oil Company, through its executive arm, the Maysan Oil Company, to invest associated gas and convert it into useful energy."
Jassim pointed out that "the company continues its efforts to develop this sector by implementing vital projects of economic feasibility, which are reflected in the lives of citizens in the first place by supporting the electricity sector, and implementing a gas treatment project in the Halfaya field with a capacity of (300) million standard cubic feet."
He continued, "The project is being implemented by the Chinese company Petrogina, and the main contractor for the field is the Chinese company CPECC, as well as a group of secondary companies, under the supervision and follow-up of a specialized technical committee in the Maysan Oil Company."
Jassim pointed out that "the project implementation period is 30 months for the construction of facilities, and another 30 months for operation and maintenance. The actual completion rates reached 51 percent until the date of February 14, 2022, when the project is scheduled to be completed and trial operation will start in mid-2023."
On the importance of the project, the Assistant Director-General for Production Affairs, Ahmed Rahim Ahmed, said, according to the statement, that "the joint efforts aim to treat all quantities of associated gas produced in the Halfaya field with a capacity of 300 mqmqm, and to use it to equip electric power plants with dry gas, in addition to the production of liquid gas." (cooking gas) and sulfur, as well as the production of C5+ condensate that will be injected with the exported oil to improve the required specifications as well as for use in other industries.”
He added that "the project, which will stop the burning of gas in the field in order to preserve the environment, is expandable, as it will also treat raw gas from the national effort fields (Al-Amarah, Nour and the surplus from the Maysan fields),"
unique case
In turn, the economic researcher, Bassam Raad, points out that it is a unique case, as Iraq came second after Russia in the world among the highest gas burning countries in 2020. According to estimates, Iraq burns ten times the quantities of gas it imports, and it still depends on Gas imports from Iran, and after the decline in gas supplies from Iran for several reasons, the electric power system lost 35 percent of the energy produced, and this led to a crisis in electric power. Therefore, the government is seeking to find quick solutions before the summer."
Raad reveals, "Among these solutions is the signing of a preliminary agreement with the State of Qatar to import gas from it, and to diversify the sources of gas import. However, it has become clear through the data that the process of importing gas from Qatar may take a time that extends to more than a year if the necessary capabilities are available, Also, this step will not fill Iraq’s need and will remain reliant on Iranian gas for a long time.On the other hand, the government is actively trying to invest associated gas with oil and free gas, and in this context, Iraq agreed with the Chinese company, SINOPEC, to develop the Mansouriya gas field, Which is the second largest free gas field in Iraq, and has also concluded contracts with the international company "Total", including a contract to invest gas with a capacity of 600 million standard cubic feet, which contributes to stopping the burning of associated gas.
Raad believes that "if Iraq succeeds in investing gas wealth, in addition to the positive environmental effects resulting from stopping the burning of associated gas, it can be an influential party in the global gas industry, as the quantities of gas available in Iraq are estimated at more than 124 trillion cubic feet." It could be a substitute for Iraqi oil exports."
A promising future in the energy market
In turn, economic researcher Saleh Lafta believes that "Iraqi gas was and is still burning in huge quantities, and it is supposed to start contracting with foreign companies and benefit from international expertise to develop gas fields, reduce burning, and increase national production for a long time, and that contracts are conducted in parallel with rounds The first licenses to develop oil fields, so Iraq would be in a better position and occupy a distinguished position in the global gas markets, and it would have been able to supply Europe with gas through pipelines, while achieving self-sufficiency in providing fuel for all electrical stations that depend on imported gas.
He added, "Although this step has been delayed for political and security reasons and poor planning, but it is better late than not, and it is a good gesture by the current government to invest Iraq's wealth, and the next government should continue in this aspect, and focus more on developing Gas production, because of its good advantages, may constitute an alternative to oil in the next few years. Negotiations, consultations and contracting with well-known international companies to develop all gas fields in Iraq will follow, in addition to establishing associated gas isolation stations, increasing Iraqi national production of gas and increasing economic returns. .
He concluded his speech by saying, "Iraq possesses large gas reserves and has a promising future in the energy markets if the optimum investment of these wealth is proceeded."
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The French company "Total" will build four giant projects to produce electric power in Basra Governorate
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Saturday 26 February 2022 10:14
[You must be registered and logged in to see this image.]
Iraq intends to enhance its capabilities to invest in natural gas (AFP)
[/size]
[You must be registered and logged in to see this link.] intends to invest free and associated natural gas in its fields, which will enhance its capabilities to export liquefied gas (LPG) and heavy drops of gas, and accelerate its programs aimed at substituting gas as a fuel to produce electric power instead of liquid fuel.
late industry
Although the [You must be registered and logged in to see this link.] Minister, Ihsan Abdul-Jabbar, described gas investment as a "late industry" in Iraq, the Iraqi minister asserts that the French "Total" company will build four giant projects to produce electric power in the oil-rich province of Basra, in the far south of the country.
During his speech at the Sixth Summit of the Gas Exporting Countries Forum, which was held in the Qatari capital, Doha last Tuesday, under the slogan “Natural Gas, Drawing the Future of Energy”, the Minister of Oil stressed investing in gas, which guarantees a significant improvement in the outputs of electric power production and a reduction in harmful emissions to the environment. . In this context, Iraq has committed to financing major project plans with its partners in the Basra Gas Company, and its anticipated projects with the rest of the major companies.
He said that the convening of this forum coincides with a sensitive and important stage witnessed by the global energy sector, and the accompanying instability and uncertainty in determining investment paths in light of the plans and programs of the transition towards clean energy, in addition to the great challenge facing the world, represented in balancing between enhancing energy security Global energy and the eradication of energy poverty, in line with the increasing global demand for it, especially in the phase of recovery from the repercussions of “Covid 19”, as it represents a mainstay in the growth of the global economy, and on the other hand, the commitment of countries to implement the requirements to reduce climate change and reduce greenhouse gas emissions. in accordance with United Nations conventions.
The Iraqi minister also stressed Iraq's continued support for the efforts of the Gas Exporting Countries Forum to enhance the forum's position in the global energy sector, and its importance, which stems from being a platform for exchanging experiences, enhancing technical and technical cooperation between countries, and developing expertise and joint projects.
He added that Iraq is proceeding with a national effort to increase reliability in calculating the reserve storage of free gas in the desert of western Iraq, which will constitute a qualitative leap in Iraq's export capabilities for liquefied gas and other drops during the year 2025, and end the use of liquid fuels in the production of electric power, especially as Iraq is coming On the need to secure about 50 thousand megawatts of energy to cover the large population growth.
late industry
Abdul-Jabbar described, earlier, investment in the field of gas as a "late industry" in Iraq.
He said in a press statement, "Investment in the field of gas is a lagging industry in Iraq, as it always tends to invest its money in quick-return projects," noting that "the process of disbursement on [You must be registered and logged in to see this link.] can be returned within two months, while the process of disbursement on gas facilities is completed." Return it after seven years.
He added, "The ministry, in partnership with Shell, established the Basra Gas Company (BGC), consisting of (Shell), (Mitsubishi) and the South Gas Company, noting that "the company has achieved successes and transformed Iraq from an importer to an exporter of some products." ".
He also indicated that "the steps after the Basra Gas Company were timid, and the biggest step after that is (BGC), which is the ministry's contract with the French Total to invest in the field of gas fields," adding, "The company will build four giant energy projects in Basra Governorate." This will enable local residents to obtain electricity through a more sustainable use of the country's natural resources, and reduce gas flaring.
Iraq has huge reserves of oil and gas, and is the second country in the Organization of Petroleum Exporting Countries (OPEC), and oil accounts for more than 90 percent of its revenues, but it is facing a severe energy crisis and suffers from continuous power outages, and it imports dry gas from Iran to operate its electrical stations.
[rtl]read more
[/rtl]
- [You must be registered and logged in to see this link.]
- [You must be registered and logged in to see this link.]
Iraq's current production of natural gas is about 2.7 billion cubic feet.
According to previous estimates, Iraq has a stockpile of 132 trillion cubic feet of gas, 700 billion cubic feet of which were burned, as a result of the poor ability to exploit it.
Iraq still imports gas from [You must be registered and logged in to see this link.] , through two pipelines, at a rate of about 20 million cubic feet per day, to operate the country's electric power plants, while the country's need is about 70 million cubic feet per day.
Gas investment in Halfaya field
The Iraqi Ministry of Oil had announced earlier, the completion of 51 percent of the gas investment project associated with oil operations in the Halfaya field in Maysan Governorate.
The project aims to invest 300 bottles (one million standard cubic feet per day).
Ali Jassim, Director General of the Maysan Oil Company, said in a press statement, "This achievement comes within the framework of the efforts and plans of the Ministry of Oil and the Iraqi National Oil Company, through its executive arm, the Maysan Oil Company, to invest associated gas and convert it into useful energy."
Jassim pointed out that "the company continues its efforts to develop this sector by implementing vital projects of economic feasibility, which are reflected in the lives of citizens in the first place by supporting the electricity sector, and implementing a gas treatment project in the Halfaya field with a capacity of (300) million standard cubic feet."
He continued, "The project is being implemented by the Chinese company Petrogina, and the main contractor for the field is the Chinese company CPECC, as well as a group of secondary companies, under the supervision and follow-up of a specialized technical committee in the Maysan Oil Company."
Jassim pointed out that "the project implementation period is 30 months for the construction of facilities, and another 30 months for operation and maintenance. The actual completion rates reached 51 percent until the date of February 14, 2022, when the project is scheduled to be completed and trial operation will start in mid-2023."
On the importance of the project, the Assistant Director-General for Production Affairs, Ahmed Rahim Ahmed, said, according to the statement, that "the joint efforts aim to treat all quantities of associated gas produced in the Halfaya field with a capacity of 300 mqmqm, and to use it to equip electric power plants with dry gas, in addition to the production of liquid gas." (cooking gas) and sulfur, as well as the production of C5+ condensate that will be injected with the exported oil to improve the required specifications as well as for use in other industries.”
He added that "the project, which will stop the burning of gas in the field in order to preserve the environment, is expandable, as it will also treat raw gas from the national effort fields (Al-Amarah, Nour and the surplus from the Maysan fields),"
unique case
In turn, the economic researcher, Bassam Raad, points out that it is a unique case, as Iraq came second after Russia in the world among the highest gas burning countries in 2020. According to estimates, Iraq burns ten times the quantities of gas it imports, and it still depends on Gas imports from Iran, and after the decline in gas supplies from Iran for several reasons, the electric power system lost 35 percent of the energy produced, and this led to a crisis in electric power. Therefore, the government is seeking to find quick solutions before the summer."
Raad reveals, "Among these solutions is the signing of a preliminary agreement with the State of Qatar to import gas from it, and to diversify the sources of gas import. However, it has become clear through the data that the process of importing gas from Qatar may take a time that extends to more than a year if the necessary capabilities are available, Also, this step will not fill Iraq’s need and will remain reliant on Iranian gas for a long time.On the other hand, the government is actively trying to invest associated gas with oil and free gas, and in this context, Iraq agreed with the Chinese company, SINOPEC, to develop the Mansouriya gas field, Which is the second largest free gas field in Iraq, and has also concluded contracts with the international company "Total", including a contract to invest gas with a capacity of 600 million standard cubic feet, which contributes to stopping the burning of associated gas.
Raad believes that "if Iraq succeeds in investing gas wealth, in addition to the positive environmental effects resulting from stopping the burning of associated gas, it can be an influential party in the global gas industry, as the quantities of gas available in Iraq are estimated at more than 124 trillion cubic feet." It could be a substitute for Iraqi oil exports."
A promising future in the energy market
In turn, economic researcher Saleh Lafta believes that "Iraqi gas was and is still burning in huge quantities, and it is supposed to start contracting with foreign companies and benefit from international expertise to develop gas fields, reduce burning, and increase national production for a long time, and that contracts are conducted in parallel with rounds The first licenses to develop oil fields, so Iraq would be in a better position and occupy a distinguished position in the global gas markets, and it would have been able to supply Europe with gas through pipelines, while achieving self-sufficiency in providing fuel for all electrical stations that depend on imported gas.
He added, "Although this step has been delayed for political and security reasons and poor planning, but it is better late than not, and it is a good gesture by the current government to invest Iraq's wealth, and the next government should continue in this aspect, and focus more on developing Gas production, because of its good advantages, may constitute an alternative to oil in the next few years. Negotiations, consultations and contracting with well-known international companies to develop all gas fields in Iraq will follow, in addition to establishing associated gas isolation stations, increasing Iraqi national production of gas and increasing economic returns. .
He concluded his speech by saying, "Iraq possesses large gas reserves and has a promising future in the energy markets if the optimum investment of these wealth is proceeded."
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