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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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With Iraq looking to boost liquefied gas exports... India is looking for gas at a competitive price

rocky
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With Iraq looking to boost liquefied gas exports... India is looking for gas at a competitive price Empty With Iraq looking to boost liquefied gas exports... India is looking for gas at a competitive price

Post by rocky Thu 29 Sep 2022, 5:23 am


[size=30]With Iraq looking to boost liquefied gas exports... India is looking for gas at a competitive price


2022-09-29
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Yes Iraq: Baghdad

India is looking to buy liquefied natural gas from one of the four countries “Saudi Arabia, Iraq, the Emirates, and America”, as it depends on who will give facilities and competitive prices compared to the other, at a time when the Iraqi interest is clear in promoting its exports of liquefied gas.
In 2018, Gazprom signed an agreement with Indian Gas Limited to supply 2.5 million tons of LNG for a period of 20 years.
But since the beginning of the war in Ukraine, supplies of GMTS have been dwindling.
India's consumption of liquefied natural gas rose on the back of the center's decision to diversify its energy sources.
Currently, gas makes up 6.2 percent of India's energy needs. Mint added that the government plans to absorb it by up to 15 percent by 2030.
India is also largely dependent on imports to meet its oil and gas needs. Eighty-five per cent of the domestic demand for oil and 55 per cent of the domestic demand for gas is met by imports in India.
Mint quoted a government spokesman as saying that the center was trying to get gas from anywhere possible "at the most reasonable prices."
“So far, gas availability is not an issue, only price. Today, gas is available everywhere, including in the United Arab Emirates and the United States. We are trying to negotiate a good deal where we can get gas at reasonable prices, another official said.
The report added that India may not pursue arbitration against Gazprom, but could deal with the case bilaterally "at the highest level of the Indian government."
 
The Ministry of Oil seems to be greatly interested in the process of exporting liquefied gas, “cooking gas,” which is the same used in cars. With this growing interest, a question comes to mind regarding the ministry’s raising the price of a liter of gas sold for cars that run on gas in Iraq. The ministry plans to achieve greater benefit from exporting gas instead of selling it at a subsidized price to citizens.
 
 
Deputy Managing Director, Director of the Higher Production Authority of Basra Gas Company, Marfa Al-Asadi, said that “the company continues to work in the production of liquefied gas used in cooking to meet the country’s need,” noting that “the current production covers 80% of the local need, in addition to exporting the surplus.” 6 years ago, through the company’s Umm Qasr port.”
He added, "The company seeks to update its plans to export liquefied gas abroad, as it has worked on developing its facilities and exporting semi-cooled gas (4 degrees Celsius), which contributed to the possibility of loading the product on ships with larger capacities that almost double the previously exported quantity, It reaches 10,000 tons, which allows our product to reach farther markets and to have more tankers used for this substance, after relying on gas exports in small vessels with capacities ranging from 3,500 to 5,500 tons, depending on the type of ship. “.
 
Iraq produces more than 2.2 million tons annually, and according to statements that 80% of the production covers the local need, this means that about 440,000 tons are exported annually, while 144,000 tons were exported in 2017, which is the beginning of Iraq's transformation into a source of liquefied gas.
The price of a ton of gas is approximately $740 ($0.74 per liter), which is more than a thousand dinars per liter, a price equivalent to 5 times the price at which the ministry sells a liter to cars in Iraq at 200 dinars per liter, before the ministry decided to raise the price to 300 dinars per liter, and perhaps the ministry’s move aims to reduce its losses and reduce the number of cars that go to gas, thus making the most of the gas possible to export it abroad instead of selling it at a subsidized price inside Iraq.
And by exporting more than 400,000 tons annually, this means that it brings to Iraq money estimated at 300 million dollars annually, while selling this amount of cars inside Iraq at the subsidized price will bring only 54 million dollars.
 
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