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South Gas achieves revenue of Iraq is estimated at $ 30 billion
August 9 2011
BAGHDAD - A follow-up morning
Experts believe that Iraq is moving in the right direction towards the implementation of the draft South Gas Giant in cooperation with Royal Dutch Shell and Mitsubishi of Japan. It is expected to endorse the Iraqi Council of Ministers formally within the next few days of this long-awaited project will enter Iraq to the big league of LNG exporters in the world.
Informed sources say that the signing of the Iraqi Oil Ministry under the supervision of the Minister Abdul Karim defect initialed the project contract with each of Royal Dutch Shell and Mitsubishi of Japan in the July 12, 2011 paved the way for final approval by the Council of Ministers.
There is no doubt that the efforts being made by Hussein Shahristani, the deputy prime minister for energy, gas, oil and water, in his capacity as Chairman of the Supreme Energy in Iraq and Iraqi Oil Minister and his team, helped to speed up the implementation of the project, which will bring Iraq's financial returns expected an estimated $ 30 billion.
The Iraqi Oil Ministry has confirmed the economic feasibility of the project through extensive studies conducted over the past few years and found those studies to the joint venture will work on the rehabilitation and maintenance of a gas existing infrastructure, then build treatment facilities and new gas with increased gas production resulting from increased production of Rumaila oil fields, West Qurna 1, Zubair.
The agreement to give priority to the domestic market so that the ministry and Shell agreed to focus investment in providing more gas to the Iraqi market to supply local power generation facilities, the country needs an urgent need.
After meeting the demands of the domestic market; the parties can move on to export.
Retain control of the ministry in this decision-owning majority shares of the company.
But the real gain from the viewpoint of experts, will be achieved when local demand for natural gas (LNG), and then will start exports of liquefied natural gas.
The signing of the South Pars gas project between the Iraqi government and the Royal Dutch Shell and Mitsubishi of Japan achieved an important strategic step an important step forward for Iraq.
The expert says the gas industry, Thomas Curtis, that Iraq can now begin to benefit from the associated gas instead of the leakage in the air, to develop the energy sector at a later stage to join the leading exporters of LNG in the world. Described the economics of the joint venture - Al Basrah Gas (BG C ) as strong, as the value of investments of $ 17 billion U.S. dollars.
It is expected to bring Iraq back an estimated $ 30 billion from the investment of just under $ 4 billion in gas project south, but gain the true will come to Iraq when you meet the domestic demand for natural gas (LNG), and then will start exports of liquefied natural gas Iraqi flowing to world markets .
It is expected to increase global demand for liquefied natural gas by 50 percent until 2020 due to increased reliance in energy and industry.
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August 9 2011
BAGHDAD - A follow-up morning
Experts believe that Iraq is moving in the right direction towards the implementation of the draft South Gas Giant in cooperation with Royal Dutch Shell and Mitsubishi of Japan. It is expected to endorse the Iraqi Council of Ministers formally within the next few days of this long-awaited project will enter Iraq to the big league of LNG exporters in the world.
Informed sources say that the signing of the Iraqi Oil Ministry under the supervision of the Minister Abdul Karim defect initialed the project contract with each of Royal Dutch Shell and Mitsubishi of Japan in the July 12, 2011 paved the way for final approval by the Council of Ministers.
There is no doubt that the efforts being made by Hussein Shahristani, the deputy prime minister for energy, gas, oil and water, in his capacity as Chairman of the Supreme Energy in Iraq and Iraqi Oil Minister and his team, helped to speed up the implementation of the project, which will bring Iraq's financial returns expected an estimated $ 30 billion.
The Iraqi Oil Ministry has confirmed the economic feasibility of the project through extensive studies conducted over the past few years and found those studies to the joint venture will work on the rehabilitation and maintenance of a gas existing infrastructure, then build treatment facilities and new gas with increased gas production resulting from increased production of Rumaila oil fields, West Qurna 1, Zubair.
The agreement to give priority to the domestic market so that the ministry and Shell agreed to focus investment in providing more gas to the Iraqi market to supply local power generation facilities, the country needs an urgent need.
After meeting the demands of the domestic market; the parties can move on to export.
Retain control of the ministry in this decision-owning majority shares of the company.
But the real gain from the viewpoint of experts, will be achieved when local demand for natural gas (LNG), and then will start exports of liquefied natural gas.
The signing of the South Pars gas project between the Iraqi government and the Royal Dutch Shell and Mitsubishi of Japan achieved an important strategic step an important step forward for Iraq.
The expert says the gas industry, Thomas Curtis, that Iraq can now begin to benefit from the associated gas instead of the leakage in the air, to develop the energy sector at a later stage to join the leading exporters of LNG in the world. Described the economics of the joint venture - Al Basrah Gas (BG C ) as strong, as the value of investments of $ 17 billion U.S. dollars.
It is expected to bring Iraq back an estimated $ 30 billion from the investment of just under $ 4 billion in gas project south, but gain the true will come to Iraq when you meet the domestic demand for natural gas (LNG), and then will start exports of liquefied natural gas Iraqi flowing to world markets .
It is expected to increase global demand for liquefied natural gas by 50 percent until 2020 due to increased reliance in energy and industry.
[You must be registered and logged in to see this link.]
