Iraq aims to invest 2.6 billion cubic feet of gas by 2026

2021-10-25 06:17

Shafaq News/ the Iraqi Oil Minister Ihsan Abdul-Jabbar confirmed today, Monday, that Iraq aims to invest 2.6 billion cubic feet of gas per day by 2026.

Abdul-Jabbar said during his participation in the Saudi Green Initiative, forum; “Iraq has taken practical steps to move seriously towards replacing clean energy, reducing emissions and pollutants, and setting plans to achieve our goals in investment projects for associated gas and renewable energy projects.”

“Iraq succeeded in investing 53% of the total Associated gas, 5% more than two years ago.”

Abdul-Jabbar added that "the Ministry of Oil has set plans to invest additional quantities of gas amounting to 2.6 billion cubic feet per day by 2026, and the ministry is continuing to implement its contracts with international companies to achieve our goals and plans within this framework."

The Minister of Oil stressed that "the Saudi initiative is an important strategic initiative in the region and the world, to confront the challenges and repercussions facing the climate and energy. Iraq supports the Green Middle East Initiative,

“The economy and the production of green hydrogen will diversify the economy of many Arab countries by taking advantage of the high solar energy resources in the region, and the production of blue hydrogen using low-value raw materials, such as heavy oil.”

The Minister of Oil stressed, "Iraq, within the directions of the government and the Ministry of Oil, is conducting a study of multiple economic models for investing associated gas using liquefaction techniques (GTL) or energy conversion (GTP) through mobile generators with medium capacities or hydrogen conversion.”

He pointed out, "the Ministerial Energy Council set its ten-year plan for energy transformation to reach 33% clean energy in 2030, and Resolution No. 67 of 2021 laid out the features of the plan to produce 12,000 megawatts of solar photovoltaic energy, which began with EPC implementation contracts and IPP investment contracts with leading companies in the field of energy such as Total and others.

Concerning Iraq’s role in protecting the climate, Ismail explained that the Presidency of the Republic approved joining the Paris Climate Agreement early this year, and at the same time, the Iraqi government confirmed its accession to the World Bank 2030 initiative to zero burning of associated gas.

He pointed out that the Ministry of Oil has started contracting to implement the joint sea water project CSSP, which includes the provision of five million barrels of water.

https://shafaq.com/en/Economy/Iraq-aims-to-invest-2-6-billion-cubic-feet-of-gas-by-2026