Iraq to begin new gas developments in 2024
The Khor Mor gas field in the Kurdistan region of Iraq. Photo: Dana Gas PJSC
Baghdad (IraqiNews.com) – The Iraqi President, Abdul Latif Rashid, said that Iraq plans to start new gas projects in 2024 to increase its natural gas output and progressively reduce its gas imports.
Rashid’s remarks took place during his participation in the seventh summit of the Gas Exporting Countries Forum (GECF) held in Algeria, where he indicated that the new projects would be included in the fifth and sixth international bidding rounds, according to a statement cited by the Iraqi News Agency (INA).
The Iraqi President explained that a new liquefied natural gas (LNG) platform being developed in the Al-Faw Grand Port in southern Iraq will facilitate gas operations.
Rashid elaborated that the Oil Ministry is also getting ready to start several new gas projects in different parts of the country to utilize the gas generated in 2023 and earlier.
The Iraqi President informed the attendees that during the previous ten years, Iraq has nearly doubled its ability to produce crude oil, reaching 4.7 million barrels per day (bpd). He added that the increase accounted for about half of the surge in world oil output.