A Japanese company has been set up to start construction of a gas pipeline to Kuwait
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- A Japanese oil and gas company has appointed Japan's Toyo Engineering Co. to help Iraq build a gas pipeline to Kuwait and a related petrochemical plant as Baghdad seeks to reduce gas burn and pay compensation due to the invasion of Kuwait in 1990. .
According to Reuters, the project, which has not been announced yet, will allow Kuwait to diversify the sources of gas imports in the wake of a political crisis between the Gulf states and Qatar, the main supplier of gas.
It would also be a blow to Royal Dutch Shell, which sought to dominate Iraq's gas, before its relations with Baghdad were damaged following its withdrawal from major oil projects.
"The Iraqi gas project is a quick solution and an easy way to make a profit from gas resources," the source said.
The World Bank, which repeatedly stipulated a reduction in the gas burn to lend to Baghdad, did not respond to a request for an immediate suspension.
Sources in the sector said that "Toyo" proposes to build a gas pipeline and start deliveries after 2019.
"Talks on the pipeline and the petrochemical plant are continuing, but the final investment decision has not been made," Reuters Finance Chief Kinsuke Waki said.
Kuwait is keen on the project and offered sovereign guarantees for up to 80 percent of the cost, sources said. The total cost has not yet been announced.
KUWAIT CITY - Kuwaiti oil minister Essam al-Marzouq said last month talks between Kuwait and Iraq focused on a gas proposal to help Baghdad pay the remaining $ 4.6 billion in war reparations.
Iraqi Oil Ministry spokesman Assem Jihad said the talks focused on the price and stressed supplies could be used to help pay the compensation.
Sources in the sector told Reuters that the talks had stalled over the price dispute.
Kuwait wants a price below $ 3 per million British thermal units, a price that is compatible with Henry Happ prices in the United States, but less than half of what Iraq pays in the north when it imports gas from neighboring Iran, the sources said.
"The price of gas has been a major sticking point so far," one source said.
He added that both countries wanted to set up a petrochemical plant at home to maximize the use of gas deliveries.
A senior Kuwaiti oil official familiar with the project said the discussions with Iraq were continuing, adding that it was not yet clear whether the gas would come from the West Qurna 2 field run by Lukoil, or Rumaila, which is run by BP. B ". Finished
[You must be registered and logged in to see this link.]
- A Japanese oil and gas company has appointed Japan's Toyo Engineering Co. to help Iraq build a gas pipeline to Kuwait and a related petrochemical plant as Baghdad seeks to reduce gas burn and pay compensation due to the invasion of Kuwait in 1990. .
According to Reuters, the project, which has not been announced yet, will allow Kuwait to diversify the sources of gas imports in the wake of a political crisis between the Gulf states and Qatar, the main supplier of gas.
It would also be a blow to Royal Dutch Shell, which sought to dominate Iraq's gas, before its relations with Baghdad were damaged following its withdrawal from major oil projects.
"The Iraqi gas project is a quick solution and an easy way to make a profit from gas resources," the source said.
The World Bank, which repeatedly stipulated a reduction in the gas burn to lend to Baghdad, did not respond to a request for an immediate suspension.
Sources in the sector said that "Toyo" proposes to build a gas pipeline and start deliveries after 2019.
"Talks on the pipeline and the petrochemical plant are continuing, but the final investment decision has not been made," Reuters Finance Chief Kinsuke Waki said.
Kuwait is keen on the project and offered sovereign guarantees for up to 80 percent of the cost, sources said. The total cost has not yet been announced.
KUWAIT CITY - Kuwaiti oil minister Essam al-Marzouq said last month talks between Kuwait and Iraq focused on a gas proposal to help Baghdad pay the remaining $ 4.6 billion in war reparations.
Iraqi Oil Ministry spokesman Assem Jihad said the talks focused on the price and stressed supplies could be used to help pay the compensation.
Sources in the sector told Reuters that the talks had stalled over the price dispute.
Kuwait wants a price below $ 3 per million British thermal units, a price that is compatible with Henry Happ prices in the United States, but less than half of what Iraq pays in the north when it imports gas from neighboring Iran, the sources said.
"The price of gas has been a major sticking point so far," one source said.
He added that both countries wanted to set up a petrochemical plant at home to maximize the use of gas deliveries.
A senior Kuwaiti oil official familiar with the project said the discussions with Iraq were continuing, adding that it was not yet clear whether the gas would come from the West Qurna 2 field run by Lukoil, or Rumaila, which is run by BP. B ". Finished
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