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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Baghdad plans to build gas pipeline to Kuwait

    Rocky
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    • Post n°1

    Baghdad plans to build gas pipeline to Kuwait Empty Baghdad plans to build gas pipeline to Kuwait

    Post by Rocky Thu 23 Nov 2017, 2:42 am

     Baghdad plans to build gas pipeline to Kuwait

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    Economy News _ Baghdad
    Iraq has appointed Toyo for Japanese engineering to help build a gas pipeline to Kuwait and a petrochemical plant linked to it as Baghdad seeks to reduce gas burn and pay compensation due to the invasion of Kuwait in 1990, Reuters reported.
    Sources in the sector said Toyo proposed to build a gas pipeline and start delivery after 2019.
    The talks on the pipeline and the petrochemical plant are continuing, but the final investment decision has not yet been made, Kinsuke Waki, chief financial officer of Toyota, told Reuters.
    The project would 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.
    "Iraq needs an immediate reduction in gas burn as it pursues the goals it has committed to the World Bank," said a senior source in the oil and gas sector working on the project, but not authorized to speak about it publicly.
    Iraq ranks 12th in the world in terms of its 3.7 trillion cubic meters of gas reserves, but this figure is back to 10 of what Iran holds the world's largest reserves.
    Iraq extracts large quantities of gas associated with the extracted oil, and yet, this gas is being burned now.
    Iraq's long-running gas development plans have focused on Basra Gas, a $ 25 billion 25-year project involving Iraq with a 51 percent stake, while Shell holds a 44 percent stake and Japan's Mitsubishi Corp. has a 5 percent stake.
    The project aims to collect gas from fields in southern Iraq, including West Qurna 1 operated by Exxon Mobil, Zubair, run by Eni, and Rumaila, run by BP.


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