Iraqi oil minister Jabbar Ali al-Allaibi said on Tuesday that the development of the gas sector in Iraq is a priority, especially stopping the burning of gas associated with the extraction of oil, and benefit from it by 2020-2021.
"Iraq burns about 55 per cent of the associated gas, while only about 45 per cent invests," al-Luaibi said in an interview with Al-Iktissad News, adding that the Ministry of Oil had plans to stop incineration of associated gas by 2020-2021.
The oil and gas-rich country is expected to increase its utilization rate of associated gas by 65% by the end of this year.
Iraq seeks to implement investment plans for burned gas, and in this context, the ministry is considering building large central complexes to store gas and build complexes to liquefy and benefit from it, instead of burning it in the air, what will feed the Iraqi economy billions of dollars.
According to preliminary estimates of the Ministry of Oil that Iraq has a reserve estimated at 132 trillion cubic feet of gas, and since about 70% of Iraqi gas is a gas associated with the extraction of oil, nearly 700 million cubic feet of it was burning and wasted because of the lack of infrastructure to address.
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