Gas Reserves.. Iraq Is Fifth In The Arab World And Tenth In The World
Sunday 03, December 2023 | Economical Number of readings: 336 Baghdad / NINA / The Ministry of Oil revealed, on Sunday, that Iraq’s gas reserves are estimated at 132 trillion standard cubic feet, ranking fifth in the Arab world and tenth in the world in terms of gas reserves.
The director of the Petroleum Research and Development Center said: “Iraq’s gas reserves are estimated at 132 trillion standard cubic feet, ranking fifth in the Arab world and tenth in the world in terms of gas reserves,” stressing that “the importance of natural gas in any country comes from it being an important source of thermal, mechanical and electrical energy.”
In various sectors, it is considered the cleanest and least polluting fuel for the environment and is a raw material for petrochemical industries, in addition to helping to grow a quarter of the energy consumed in the world.”
He continued, "Gas investment guarantees a significant improvement in the outputs of electric energy production and a reduction in emissions that are harmful to the environment," noting that "Iraq has committed to financing large project plans with its partners in (the Basra Gas Company) or its completed or under construction projects with the rest of the companies operating its fields." Petroleum production within licensing rounds.
He pointed out, "The possibility of Iraq being one of the suppliers of gas in the world if its reserves are properly invested in accordance with well-studied strategic plans and timetables for this important file and the implementation of the plans," explaining that "natural gas did not receive sufficient investment attention during the previous period."
He explained that "Iraq ranks fourth in the world in burning gas, with its quantities estimated at 14 billion cubic meters annually as a result of the delay in its investment plans and the lack of sufficient funds for that."/End https://ninanews.com/Website/News/Details?key=1093321
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