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Mazhar Saleh: Gas flaring losses are estimated at $12 billion annually
Economical 04/01/2023
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Yesterday, Friday, Advisor to the Prime Minister, Mazhar Muhammad Salih, explained that the losses of gas flaring and its import are estimated at about $12 billion annually, while he expected that its burning would be zero and that its uses would reach 100% during the next two years.
Salih said, in a press statement: “The losses incurred by Iraq as a result of importing gas to operate power stations, or burning associated gas from the central and southern fields, is estimated at about $12 billion annually, which is a huge cost on oil resources and the country’s financial resources.” ".
He added, "What the Prime Minister announced about taking several measures to develop the energy sector and invest associated gas represents the beginning of two things: the first is stopping and zeroing gas burning in order to protect the Iraqi environment from pollution and problems, and the second is the use of gas after its treatment for the purposes of power stations."
He pointed out that "this also saves two things, the first is the use of burnt gas, which goes to waste, and the second is to stop imports as much as possible to operate and advance power stations."
He expected, "During the next two years, to reach zero percentage of the burned associated gas, and its uses will reach 100%," stressing that "this represents an economic and technical process related to economic prosperity and the immunity of the Iraqi environment."
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