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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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    60% accompanied and 40% free.. Will Iraq achieve gas sufficiency and earn $6 billion within 3 years?

    Rocky
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    60% accompanied and 40% free.. Will Iraq achieve gas sufficiency and earn $6 billion within 3 years? Empty 60% accompanied and 40% free.. Will Iraq achieve gas sufficiency and earn $6 billion within 3 years?

    Post by Rocky Mon 27 Feb 2023, 8:03 am


    [size=30]60% accompanied and 40% free.. Will Iraq achieve gas sufficiency and earn $6 billion within 3 years?

    2023-02-27
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    Yes Iraq: Baghdad

    The priorities of the current government headed by Muhammad Shayaa al-Sudani towards investing gas in Iraq led the specialists to discuss what Iraq could achieve within 3 years, after many years of Iraq suffering from importing Iranian gas and waiting for the green light from the American side and the adventure to avoid sanctions, as well as the transformation of the energy sector. Electricity in Iraq is being held hostage by the gas that Iraq imports and the internal situation on the Iranian side.
    Iraq has 1,400 cubic meters of burnt gas, which is an amount equivalent to 82% of what Iraq imports from Iran, while the electric power deficit in Iraq is more than 12,000 megawatts, and what Iraq is currently producing and investing in is 1,500 cubic meters per day, and by investing all the burned gas, it will have Iraq has 3,000 cubic meters ready, while the Iraqi need is estimated at 5,000 cubic meters per day, which means that Iraq will need an additional 2,000 cubic meters per day, which it may produce from free gas.
    Member of the Oil, Gas and Natural Resources Committee in the House of Representatives, Alaa Al-Haidari, said that the government is in the process of increasing gas production to achieve self-sufficiency and export its surplus, and benefit from it primarily in the provision of electric energy, noting that most of the power stations that Iraq has contracted with (Siemens) will be Gas is essential in its operation.
    For his part, oil expert Furat al-Moussawi said that natural gas in the country is divided into associated, which constitutes 70 percent, and free, which accounts for 30 percent, indicating that the current total gas production amounts to 3 thousand million standard cubic feet (300 cubic feet).
    And he indicated that the current production of gas amounts to approximately 1,600 million standard cubic feet, and the remaining 1,400 million standard cubic feet is still burning, noting that there are projects to invest in gas in Nasiriyah and Maysan that could be added to production by the end of 2023, according to the reports of the Ministry of Oil.
    Al-Moussawi added that this year will witness direct investment in the crutch fields in Anbar, Siba in Basra, and Mansouriya in Diyala, as well as negotiations to invest gas in the Artawi field with the French energy company Total.
    He pointed out that Iraq needs 5 thousand million standard cubic feet to reach the stage of self-sufficiency, and thus it will remain hostage to imports in light of the population increase and industrial and commercial expansion, explaining that the fifth round of oil licensing needs four years to fully achieve optimal investment in gas.
     
    $6 billion
    For his part, economist Safwan Qusai sees the possibility of achieving self-sufficiency in gas and achieving an amount of $6 billion annually, with the possibility of exporting gas and delivering it to Europe.
    Qusay said, "Iraq is the eighth in the world in terms of gas reserves, as it possesses approximately 132 trillion cubic feet of gas, and there is a possibility to achieve self-sufficiency from Iraq's need for gas."
    He added, "There is a possibility to export gas abroad, but its high global prices and increased demand for it caused Iraq to move towards investing this energy, and within three years Iraq can come close to achieving self-sufficiency if it manages the investment file well in attracting international investment companies to invest in this energy." .
    And he indicated that “investing gas in Iraq will provide no less than 6 billion dollars annually for local needs, while the export process is linked to the establishment of an infrastructure for the process of exporting associated gas from the fields of Anbar, Diyala and Basra. It exports gas.”
     
    And if Iraq invests its associated gas amounting to 3,000 cubic meters per day in full, then it will constitute 60% of the total quantities of gas it needs, while the remaining 40% will be compensated through free gas fields.

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