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Oil expert: monetizing associated gas trumps non-associated gas

Category: Economy

Date: 2021-09-07T09:56:22+0000
Oil expert: monetizing associated gas trumps non-associated gas

Shafaq News/ Monetizing associated gas, a byproduct of the crude oil extraction process, is a higher priority than non-associated gas, naturally occurring gas that is not dissolved in crude oil, expert Hamza al-Jawahri said on Tuesday.

"In vain, massive amounts of associated gas are being flared daily," he said, "Iraq loses astronomical sums daily for failure to optimally benefiting from flaring gas."

"Investing in associated gas is more a priority than investing in gas wells in Diyala and al-Anbar," he added.

"The latest agreement Iraq signed with the French company Total on oil, gas, renewable energy, seawater encompasses huge projects that will boost sustainable development in the country," he said, "these projects will be state-owned because they will be financed by the revenues of Artawi oil field."

Iraq was the world's second worst gas flaring nation after Russia in 2020, according to the World Bank. Baghdad is seeking to spend, with certain energy partners, $15 billion to boost its gas production, the country's oil minister said May 3, as the country works on reducing reliance on Iranian energy imports.

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