Statement from US National Security Advisor Jake Sullivan Welcoming Developments in Iraq's Energy Sector
We welcome significant progress in Iraq this week with respect to energy deals that further strengthen Iraq's sovereignty, independence, and economic prosperity.
First, the Government of Iraq and the Kurdistan Regional Government reached a historic agreement on the export of oil and management of revenues through the Iraq-Turkey Pipeline. This agreement paves the way for a multi-year budget now before Iraq's Council of Representatives and an eventual hydrocarbons law for long-term stability and predictability in Iraq's energy sector.
Second, the Government of Iraq reached an unprecedented $27 billion deal with France's TotalEnergies, including a project to enable the recapture and use of flared gas in southern Iraq. Once implemented, this historic project will increase electricity supply for the benefit of the Iraqi people, advance Iraq's energy self-sufficiency, reduce harmful climate effects from flared gas in southern Iraq, and allow for the export of gas products to new markets.
We are pleased that companies from Qatar, Saudi Arabia, and the United States will play important roles in this infrastructure project. The United States is proud to support these and other regional projects and ongoing diplomatic initiatives to advance a more stable, interconnected, and prosperous Middle East region, which ultimately benefits the United States and the American people.
(Source: The White House)
Crude Oil produces Hydrocarbon Gas which is burnt from a flare and wasted, Now most houses in UK use Natural Gas for Central heating and cookers through extended pipelines, Russia was the supplier of this Natural Gas to Europe, since the war outbreaks in Ukraine UK introduce sanction on Russia and stopped importing its Natural Gas this resulted in more expense for Consumers nearly trebled the price, Qatar North Field Ras Laffan is the main supplier of Natural Gas from Offshore main supply to SE ASIA with a contract, now Europe importing some of the Natural Gas from QATAR.