EU interested in Iraq natural gas

[Psycho4Bud]

May 25, 2007


BAGHDAD -- While Iraq is more known in the energy world for its oil potential, the EU is looking to Baghdad for access to its underdeveloped natural-gas sector.

Iraq has more oil than every country but Saudi Arabia and Iran, but its 111 trillion cubic feet of proven natural-gas reserves is the 10th-largest in the world. Iraq produced nearly 62 billion cubic feet last year, according to the Energy Information Administration, the data arm of the US Energy Department.

"EU representatives held talks this week with oil ministry officials, headed by oil minister Hussein Al Shahristani, and expressed EU countries' interest in importing Iraqi natural gas from the Ekas field, a huge field that extends from Ninewa province to the southern borders of Saudi Arabia," ministry spokesman Issam Jihad said.

He said that the field can produce 100,000 barrels per day of oil and "large amounts of gas in the western region that may turn Iraq into one of the largest natural gas producers in the Middle East region."

The Voices of Iraq news agency reports that the EU delegation is interested in a joint Arab pipeline and having access to possibly the entire natural-gas production.

"Large steps have been taken toward concluding the agreement and the EU delegation is interested in participating to develop Iraq's oil fields," Jihad said.

The sector, however, would need billions in upgrades and investment. A presentation given by Sabah Al Jowhar, manager of the gas department in the oil ministry's planning directorate, in February 2006 showed Iraq flares 60 percent of its daily natural-gas production because it lacks facilities to transport it to market or utilize in domestic consumption.
EU interested in Iraq natural gas - Business - Middle East Times

This should help with jobs and an increase to the GDP.

Have a good one!:s4:

Psycho4Bud Reviewed by Psycho4Bud on 05-26-2007. EU interested in Iraq natural gas May 25, 2007 BAGHDAD -- While Iraq is more known in the energy world for its oil potential, the EU is looking to Baghdad for access to its underdeveloped natural-gas sector. Iraq has more oil than every country but Saudi Arabia and Iran, but its 111 trillion cubic feet of proven natural-gas reserves is the 10th-largest in the world. Iraq produced nearly 62 billion cubic feet last year, according to the Energy Information Administration, the data arm of the US Energy Department. Rating: 5

[fishman3811]

P4B ive always wondered how they would get the natural gas say from Iraq into North America as far as i know there isnt a pipeline that goes through the Atlantic so would they ship it?I guess they would unless the Natural gas would go to Europe.

[Psycho4Bud]

Exactly.........a pipeline to Europe and throughout the middle east would be the key for that one. Just needs developement which the way it looks....is coming soon to a dealer near vous. lol

Have a good one!:s4:

[fishman3811]

Well i guess us Canadians will just have to keep heating up your homes with our own natural gas.You can thank us later P4B