Experts: Natural gas investment supports "budget"

June 10, 2017

Baghdad - Journal News

Called specialists in economic affairs, to increase government support in the exploitation of the country's wealth of natural gas, which achieves economic feasibility and increase the financial resources of the general budget, as they put it.

A member of the committee "oil and energy parliamentary" Tareq Siddiq Rashid told the «Journal News» on Saturday, that "Iraq needs a real direction to invest natural gas associated with oil extraction operations, and reproducing and not wasting it through the exploitation of optimal, whether for domestic consumption and operation of generators Electricity or export it like oil. "

"The process of investing this wealth needs industries that rely on locally produced gas to produce different materials covering the growing market demand, such as the chemical fertilizer industry, with the export of the surplus abroad."

He pointed out that "the indicators confirm the presence of large quantities of gas in Anbar province in western Iraq and in Amara and Basra in the south, as in the province of Kirkuk to the north, which contains millions of cubic meters of gas."

Rashid called on the central government to give the gas file is of paramount importance, especially as it enters into many local industries.

In the same regard, the oil expert, Hamza al-Jawahri told the «Journal News» that "the gas file has become a concern of successive governments to the Ministry of Oil."

He added: "Natural gas needs a lot of processors, including treatment of sulfur and water, as well as pumping through giant pipelines extending from the far south to the north of the country for efficient distribution of power plants and thus supply petrochemical projects."

Al-Jawahiri also pointed out that "the system of production of gas needs a lot of elements, including capital, planning and optimal design, in addition to the contribution of oil companies operating in Iraq to bear part of the financial burdens related to this project."

"If these steps can be achieved, the generation of electricity will be very easy and highly efficient, thus ensuring the next 50 years in optimizing the use of gas," he said.