Iraq to begin new gas developments in 2024

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Iraq to begin new gas developments in 2024

Iraq’s President, Abdul Latif Rashid, stated that the country intends to begin new gas projects in 2024 to enhance natural gas output and gradually reduce gas imports.

Rashid’s words came during his participation in the seventh summit of the Gas Exporting Countries Forum (GECF), held in Algeria, when he stated that the new projects will be included in the fifth and sixth international bidding rounds.

The Iraqi President said that a new liquefied natural gas (LNG) platform being built in the Al-Faw Grand Port in southern Iraq will make gas operations easier.

Rashid went on to say that the Oil Ministry is also preparing to launch various new gas projects around the country to use the gas produced in 2023 and sooner.

The Iraqi President reminded the delegates that in the preceding 10 years, Iraq’s crude oil production capacity had nearly quadrupled, reaching 4.7 million barrels per day (bpd). He said that the increase accounted for almost half of the rise in global oil output.