Baghdad-WAA
The Ministry of Oil announced today, Wednesday, that gas investment rates will rise to 70 percent by the end of this year.
The ministry stated in a statement received by the (INA), that “Undersecretary of the Ministry for Gas Affairs Izzat Saber Ismail inaugurated the second berth for exporting condensates and liquefied gas in the port of Umm Qasr in Basra,” indicating that “the opening ceremony was attended by a number of officials in the ministry and the Southern Gas and Basra Gas companies, and a number of officials in the local government of Basra Governorate.”
According to the statement, the Undersecretary of the Ministry for Gas Affairs, Ezzat Saber Ismail, confirmed that “the platform will provide flexibility in the export operations of liquefied gas and condensates, which currently amount to 50 tons per month, and it is hoped that by the beginning of 2025 it will reach 80 tons per month,” noting that “with the increase in production rates, it will reach 125 tons per month.”
He explained that “the ministry is implementing a number of strategic projects to invest associated gas in a number of oil fields,” noting that “gas investment rates will rise to 70 percent by the end of this year.”
The Director General of the Southern Gas Company, Hamza Abdul Baqi, pointed out that “the ministry is implementing a number of promising projects to invest in gas, and thanks to the joint efforts with the Basra Gas Company, surplus rates have been achieved for the local need for consumption of liquid gas (LPG),” indicating that “this gas is different from the gas that is imported to operate power generation stations or that is used in petrochemical industries, cement industries, and others.”
The Managing Director of Basra Gas Company, Kazim Port, explained that “the second berth includes four loading arms, which provide flexibility and increase in export operations for the second berth,” noting that “two arms have a capacity of 2,400 m3 per hour to load butane and propane, and two arms have a capacity of 4,800 m3 per hour to load condensates, compared to 500 m3 per hour, the capacity of the third berth from which exports are currently taking place.”