Iraq has set a goal to achieve self-sufficiency in natural gas production within the next five years, aiming to increase its daily production to 42.5 million cubic meters. This announcement was made by Iraq's Oil Minister Hayyan Abdul Ghani during a conversation with the WAM news agency on Thursday, on the sidelines of the eighth OPEC International seminar.
Abdul Ghani stated that Iraq has expedited the development of major oil fields such as Majnoon, West Qurna-2, Luhais, At Tuba and Sabbah. These developments will enable the extraction of up to 17 million cubic meters of associated oil gas per day, which will significantly contribute to meeting the country's domestic electricity needs. The minister emphasized that "Iraq expects to achieve self-sufficiency in natural gas within the next five years". In total, the Iraqi authorities plan to increase natural gas production to 42.5 million cubic meters per day.
Presently, Iraq heavily relies on electricity and fuel imports from Iran to power its plants, importing up to 50 million cubic meters of natural gas daily. However, Iran occasionally reduces or suspends exports due to its own domestic shortages or Iraq's financial obligations.
The eighth OPEC International Seminar took place on July 5-6 at the Hofburg Palace in Vienna. It brought together ministers from OPEC member countries, other oil producers, heads of international organizations and top executives from leading energy companies worldwide.
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Based on materials from TASS