Siemens Energy to utilize associated gas in Iraq

Baghdad (IraqiNews.com) – Siemens Energy in Iraq announced on Monday that it is planning to engage in investments related to the associated gas in southern Iraq.

The company’s executive director in Iraq, Muhannad Al-Saffar, told the Iraqi News Agency (INA) that Siemens is collaborating with the Iraqi government to invest in associated gas for environmental reasons as well as to reduce government spending, which is high.

Al-Saffar indicated that discussions are ongoing with the Iraqi Ministry of Electricity and the Ministry of Oil to initiate an associated gas project in the near future in southern Iraq.

Iraq’s National Investment Commission (NIC) announced last week that it reached an agreement with a local company to utilize associated gas in one of the gas fields in southern Iraq.

The project will be carried out within 36 months at a cost of $2.6 billion, INA reported.

The NIC’s chairman, Haider Makiya, told INA that a license has been issued to the Raban Al-Safina Group of Companies to utilize associated gas in the Nahr Bin Omar gas field in Basra governorate and to reduce gas imports.

Makiya explained that the gas field will be developed to produce 300 million standard cubic feet of gas in two stages, 150 million cubic feet for each stage, adding that this quantity is equivalent to one-third of the gas Iraq imports.

During his participation in the 7^th summit of the Gas Exporting Countries Forum (GECF) held in Algeria, 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 indicated that the new projects would be included in the fifth and sixth international bidding rounds.

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 in Iraq.