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Iraq plans to build three gas processing plants
economy Since 2017-04-17 at 17:32 (Baghdad time)
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Iraq plans to build three new plants to treat natural gas currently being burned in southern oil fields, use fuel to generate electricity and boost the country's income from energy exports, Iraqi Oil Minister Jabbar al-Luaibi said on Monday.
Iraq is forced to burn part of the gas it produces alongside crude oil because there are no facilities needed to assemble and treat it as usable fuel.
There is in Iraq one gas processing company, a joint venture between the South Gas Company and Shell and Mitsubishi and known as the Gas Company of Basra.
"The ministry is seeking to end the burning of associated gas during the next few years despite the economic and financial challenges," Al-Allaibi said in a statement.
Luaibi said at an energy conference in Baghdad on April 2 that the country's natural gas production would triple by 1700 million cubic feet per day by 2018 with projects in Iraq aimed at reducing incineration.
Iraq, OPEC's second-largest crude producer after Saudi Arabia, is seeking to boost oil and gas revenues, which account for nearly all of the state's overall budget resources.
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economy Since 2017-04-17 at 17:32 (Baghdad time)
Follow Mawazine News
Iraq plans to build three new plants to treat natural gas currently being burned in southern oil fields, use fuel to generate electricity and boost the country's income from energy exports, Iraqi Oil Minister Jabbar al-Luaibi said on Monday.
Iraq is forced to burn part of the gas it produces alongside crude oil because there are no facilities needed to assemble and treat it as usable fuel.
There is in Iraq one gas processing company, a joint venture between the South Gas Company and Shell and Mitsubishi and known as the Gas Company of Basra.
"The ministry is seeking to end the burning of associated gas during the next few years despite the economic and financial challenges," Al-Allaibi said in a statement.
Luaibi said at an energy conference in Baghdad on April 2 that the country's natural gas production would triple by 1700 million cubic feet per day by 2018 with projects in Iraq aimed at reducing incineration.
Iraq, OPEC's second-largest crude producer after Saudi Arabia, is seeking to boost oil and gas revenues, which account for nearly all of the state's overall budget resources.
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