Basra/ Iraq TradeLink: Iraqi Oil Minister Jabbar al-Li'aibi announced that Iraq will not waste any of the accompanying gas by 2019, pointing that the idea to supply Kuwait with the Iraqi gas dated back to 1980s.
In a press conference here, he pointed that the delay of investing gas projects during the past few years was due to the fluctuations in international gas prices.
"The ministry is serious to solve the question of burning of the accompanying gas, where billions of dollars are wasted annually, in addition to environmental risks", he elaborated.
The minister added that 70% of the accompanying gas shall be utilized by the end of this year, where this percentage will be increased in the third quarter of 2018 to 90%.
"In 2019, the waste of gas will be zero", he confirmed.
On the supply of gas the Kuwait, he added that the idea dated back to 1980s, but was cancelled in the beginning of 1990s.
"After 2003, attempts were made to revive this project, but it was suspended", he pointed out.
Minister al-Li'aibi added that the technical studies were completed and the exports shall start at the end of this year.
He elaborated that the agreement with Kuwait will be to supply 50 million cubic feet of gas daily, which shall be increased to 200 million cubic feet daily.
Official reports said that Iraq owns gas reserves to about 132 trillion cubic feet, where 70% of the produced gas is burnt randomly due to the lack in gas infrastructures.
Iraq is the country number 10 among the rich countries in natural gas, following Russia, Iran, Qatar, Saudi Arabia, United Arab Emirates, USA, Nigeria, Venezuela and Algeria.
Source: Iraq TradeLink