20/11/2011Basra gas project to support the economic reality in the country
Dubai - Al-Sabah
described the chief executive of Shell, Mr. Peter Voser, the project of establishing Basrah Gas Company as a positive signal about the investment climate in Iraq.
He added that this project will lead to the provision of energy efficiency and mission for Iraq, at the same time reduce greenhouse gas emissions, noting that Shell will manage projects and provide technical expertise with the intention to facilitate the development of Iraqi personnel gradually to take over the positions of Chairman of the Joint Directors of the Company."
he said as agreed joint venture will gather and process raw gas from the fields of Zubair and Rumaila, West Qurna 1, the Majnoon field in the southern region of the country. the primary market for gas will be Iraq, and any surplus could be exported to abroad. He noted that he is currently burning about 700 million standard cubic feet of gas per day in southern Iraq.
Continues ...read more ..
Under current prices, the value of gas is estimated at $ 1.8 billion annually. and burning creates emissions of greenhouse gases is equivalent to about 3.5 million vehicles a year. The Cabinet has approved an agreement with Royal Dutch Shell property and Mitsubishi, to form a joint venture for the collection of raw gas from three fields major oil, to provide an important source of energy for domestic consumption in Iraq and provide the potential future of Tsidiralghaz.
This project will contribute to the establishment of Basrah Gas Company is a joint venture limited liability between the South Gas Company (51% ) and all of the Shell (44%) and Mitsubishi (5%) (BGC), and the company will be common to collect raw gas which is flared at present due to the lack of infrastructure.
It should be noted that Shell has signed a preliminary agreement with the Iraqi Oil Ministry to set up a project gas collection. agreement established commercial principles to establish a joint venture between Shell and South Gas Company and The Shell is the operator in Iraq to provide technical assistance to develop the Majnoon field.
link
