Iraq, Shell, Mitsubishi form Basra Gas Company

BAGHDAD / IraqiNews.com: The Iraqi Council of Ministers has approved that the South Gas Company (SGC – state run) forms the Basra Gas Company in partnership with two firms, Shell and Mitsubishi. “SGC will hold 51% of the new firm’s shares, while 44% will go to Shell and 5% to Mitsubishi,” Ali al-Dabbagh, the official spokesperson of the Iraqi Government, said on Wednesday. He noted that the approval comes as part of the Iraqi Government’s interest in exploiting the country’s national resources. MH (P)/SR 1