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Economists: The government is required to accelerate the pace of gas production
Economical 2023/02/23
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Shukran Al-Fatlawi
Experts in the economic and oil affairs urged the government to accelerate the pace of domestic gas investment by contracting with solid companies in order to stop its waste, especially after the debt owed by Iraq in return for importing it reached $10 billion.
Prime Minister Muhammad Shia al-Sudani, during his sponsorship of the final signing ceremony of the fifth licensing round yesterday, called on the Ministry of Oil to prepare all fields for investment, whether for natural or associated gas, and to launch other rounds of licensing, and announced Iraq's ability to reach self-sufficiency in gas within three years.
The Global Gas Flaring Tracking Partnership Report for 2022 indicates that 144 billion cubic meters of gas has been exposed to flaring in oil and gas production facilities in the world, and 10 countries have been responsible for three quarters of all flaring activities, including Russia, Iraq, Iran, the United States, Venezuela, Algeria and Nigeria.
Economist Dr. Nabil Al-Marsoumi told Al-Sabah that the gas currently produced only meets 43 percent of domestic consumption, as consumption increased significantly during the period between 2017 and 2022. He pointed out that the country imports about 57 percent of its gas needs. At an annual cost of more than four billion dollars annually, and with annual imports ranging between 6-7 billion tons annually of Iranian natural gas through pipelines, as the Iranian gas debts owed by Iraq amounted to 10 billion dollars.
Al-Marsoumi noted that the gas projects currently planned include the investment of Nasiriyah gas with a capacity of 200 cubic metres, Halfaya with a capacity of 300 cubic metres, the Artawi project of the Basra Gas Company with a capacity of 400 cubic metres, and the Artawi field project of the South Gas Company with a capacity of 300 cubic metres. It is hoped that these projects will be completed in within four years.
He added that the completion of these projects will raise the produced gas to about 1,200 cubic meters per day, which means that the country will achieve 80 percent of self-sufficiency.
He pointed out that the country needs other investments, for example, if the French company Total implemented the projects that were agreed upon, it is possible to add (600 cubic meters) per day.
He added that the investment and operation of the Akkas and Mansouriya fields will work to achieve self-sufficiency and export gas abroad, pointing out that the Kurdistan region is more advanced in gas projects.
In the past years, successive oil ministries announced time goals to stop gas flaring, as Iraq joined in 2017 a global initiative launched by the World Bank to stop gas flaring by 2030, and last December, former Oil Minister Ihsan Ismail pledged that at the end of the year 2024 Gas flaring in the southern fields will decrease by 90 percent, but over the past two years, Iraq has increased by only 5 percent the amount of associated gas processed, according to the Oil Ministry.
For his part, expert Hamza Al-Jawahiri told Al-Sabah: The country has gas fields that extend in the western, southern and northern regions, and they are not operational, so they should be invested by sober companies. He stressed that the country possesses a huge wealth of associated gas that is wasted and a small part of it is exploited, calling for the need to develop the explored fields, noting the possibility of resolving the gas crisis that the country suffers from.
The Parliamentary Oil and Gas Committee recently declared that domestic gas is not sufficient to operate all power stations at the present time, and that is why Iraq is turning to importing Iranian gas to fill the actual need to operate power stations.
Edited by: Ali Mouafaq
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