Gas export agreement with Kuwait reaches final touches — Oil Minister
Flames emerge from a pipeline at the oil fields in Basra, southeast of Baghdad, Iraq October 14, 2016. REUTERS/Essam Al-Sudani
Kuwait (IraqiNews.com) – Iraqi Minister of Oil Thamer al-Ghathban said on Sunday that his country is expected to put its final touches on an agreement to export gas to Kuwait.
KUNA quoted Al-Ghathban as saying in a statement on the sidelines of the 101st meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC) held in Kuwait that the agreement was made during mandate of the previous Iraqi government, and “we will consider the agreement and make our decision based on positive data.
“I cannot say that I have any remarks on the agreement because we have exported gas to Kuwait in the 80s, but we all know that Iraq has big needs for gas especially in generating electric power,” Al-Ghathban said.
“The two sides have negotiated several days ago on the borderlines between Kuwait and Iraq
and studies have been made with engineers and technicians to make the area beneficiary for
both sides,”
Earlier in the day, Ghathban expected “an improvement” in oil prices at the beginning of next year, after the implementation of the OPEC and non-OPEC decision to curb production made earlier this month.
“We are optimistic that the current fall in prices will stop because there is no more oversupply in the market,” he said at the Kuwait-hosted meeting.