Iraq to Export Gas by 2015

Further to the gas deal signed with Shell and Mitsubishi (see our report here), BusinessWeek reports an Iraqi government spokesman as saying that gas output will probably exceed the nation’s domestic demand for power generation by 2015 or 2016, allowing the country to export gas in liquid form.

Natural gas is produced as a by-product of crude oil production, and is expected to double within three years as the country boosts its oil output.  The Shell/Mitsubishi project aims to capture about 700 million cubic feet of gas a day in southern Iraq, making use of fuel that’s currently flared off.

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