Iraqi associated gas investment to reach 70% by the end of 2024
Shafaq News/ Iraqi associated gasinvestment projects will increase to nearly 70% by the end of 2024, Deputy OilMinister for Gas Affairs, Ezzat Saber Ismail, announced on Wednesday.
During the inauguration of thesecond terminal for exporting condensates and liquefied gas at Umm Qasr Port inBasra, Ismail stated, "The terminal will provide flexibility in the exportof liquefied gas and condensates, currently at 50 tons per month, withexpectations to reach 80 tons per month by early 2025," adding, "Asproduction rates rise, the exports could reach 125 tons per month."
Moreover, he confirmed that theministry is implementing several strategic projects to invest in associated gasacross various oil fields.
The inauguration was attended byseveral ministry figures, South Gas and Basrah Gas companies’ representatives,and Basra local government officials.
According to "Oil and Gas"magazine, Iraq ranks fifth among Arab countries possessing the largest naturalgas reserves, with Qatar leading the list.
Globally, the country stands as the54th largest producer, contributing 0.25% to global output, with the leadingproducers being the US, Russia, and Iran.
