Baghdad plans to turn Iraq into gas exporting country
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during his participation in the Middle East Global Summit organized by Al-Monitor and Semafor in New York. Photo: INA
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed on Friday that the government plans to turn Iraq into a gas-exporting country.
Al-Sudani’s remarks took place during his participation in the Middle East Global Summit organized by Al-Monitor and Semafor in New York, according to a statement issued by the Prime Minister’s Office (PMO).
The Iraqi Prime Minister reviewed the Iraqi government’s approach to important issues, including the optimal utilization of energy sources, in addition to economic reform, unemployment, and fighting corruption.
Al-Sudani stated that it is time for US businesses to invest in Iraq, especially the energy market, noting that Iraq is an important country in the global energy market and will soon play a role in global gas supplies through investments in natural and associated gas.
Iraq burns 1.3 billion cubic feet of gas daily and imports one billion cubic feet of gas from Iran. Gas imports and burning flared gas cost the country between $8 billion and $9 billion.
“No investments have been made in natural gas or associated gas in Iraq until recently,” Al-Sudani said.
“The Iraqi government completed important projects in the gas sector, which will enable Baghdad to export gas in the future,” the Prime Minister explained.
“A deal with TotalEnergies has been reached, and agreements with UAE and Chinese companies in the gas sector have been concluded,” Al-Sudani elaborated.
“Other projects in the gas sector are being implemented by national companies, in addition to the contributions of international companies through offers recently made by the Iraqi Oil Ministry,” Iraq’s Prime Minister illustrated.
“Taking into consideration the large reserves of natural gas that have never been exploited in Iraq, the government is planning to make Iraq a gas-exporting country,” Al-Sudani said during the summit.
The Iraqi Prime Minister also referred to the Development Road project, which will include pipelines to transport oil and gas to Turkey and Europe.