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[size=36]Billions of dollars... Reasons why Qatar seeks to invest in Iraq's oil[/size]
reports| 11:57 - 02/02/2023
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Follow-up - Mawazine News
A week ago, Reuters revealed that Qatar is in talks to acquire a stake in the French company Total and its business in Iraq.
Reuters said that the large investment by the Gulf state would represent an "important victory" for Iraqi Prime Minister Mohammed al-Sudani, who took office last October.
Sources told Reuters that Qatar Energy is looking to acquire a stake of about 30% in the project.
What is the significance of the deal for Qatar?
The deal is particularly important for Iraq, especially after ExxonMobil, Shell and BP have scaled back operations in Iraq in recent years.
The Total Energies deal with Iraq, which will require an initial investment of $10 billion, follows the visit of French President Emmanuel Macron in September 2021.
According to an analysis by expert Simon Watkins, published by the Oil Price website, which specializes in energy news, Qatar's move to buy a 30 percent stake in four projects worth $27 billion in Iraq that was supposed to be run by Total Energy is "in line with Washington's strategy for Iraq."
The Total project is divided into projects for pumping sea water into Iraqi oil fields, exploration projects, transportation projects, as well as gas projects.
The analysis says that the best option for Qatar in this group of projects is the gas project, given its experience in this field and its role as the largest exporter of liquefied natural gas in the world.
Qatar is among the largest gas exporting countries in the world with a production capacity of 77 million tons annually, and it can produce more if necessary.
The website says Doha has plans to increase that to 126 million tons annually by 2027.
And by joining Qatar to the Iraqi gas projects, it will be able to compensate a large proportion of Russian gas supplies.
The site says that when sanctions were imposed on Russian energy, Qatar's LNG supplies were used to fill a large part of the supply gap.
The analysis says that another important element for Qatar is the United States focusing on it as a major ally instead of Saudi Arabia, which asked it for help in its attempts to punish Russia for its invasion of Ukraine, but without a clear Saudi response. Ended 29/N33
A week ago, Reuters revealed that Qatar is in talks to acquire a stake in the French company Total and its business in Iraq.
Reuters said that the large investment by the Gulf state would represent an "important victory" for Iraqi Prime Minister Mohammed al-Sudani, who took office last October.
Sources told Reuters that Qatar Energy is looking to acquire a stake of about 30% in the project.
What is the significance of the deal for Qatar?
The deal is particularly important for Iraq, especially after ExxonMobil, Shell and BP have scaled back operations in Iraq in recent years.
The Total Energies deal with Iraq, which will require an initial investment of $10 billion, follows the visit of French President Emmanuel Macron in September 2021.
According to an analysis by expert Simon Watkins, published by the Oil Price website, which specializes in energy news, Qatar's move to buy a 30 percent stake in four projects worth $27 billion in Iraq that was supposed to be run by Total Energy is "in line with Washington's strategy for Iraq."
The Total project is divided into projects for pumping sea water into Iraqi oil fields, exploration projects, transportation projects, as well as gas projects.
The analysis says that the best option for Qatar in this group of projects is the gas project, given its experience in this field and its role as the largest exporter of liquefied natural gas in the world.
Qatar is among the largest gas exporting countries in the world with a production capacity of 77 million tons annually, and it can produce more if necessary.
The website says Doha has plans to increase that to 126 million tons annually by 2027.
And by joining Qatar to the Iraqi gas projects, it will be able to compensate a large proportion of Russian gas supplies.
The site says that when sanctions were imposed on Russian energy, Qatar's LNG supplies were used to fill a large part of the supply gap.
The analysis says that another important element for Qatar is the United States focusing on it as a major ally instead of Saudi Arabia, which asked it for help in its attempts to punish Russia for its invasion of Ukraine, but without a clear Saudi response. Ended 29/N33
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