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Qatar Energy Joins Iraq’s Ambitious Gas Expansion Program as Part of a Billion Dollar Initiative

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Qatar Energy announced that it has agreed to acquire a 25% stake in the Integrated Gas Growth Project (GGIP), a multi-billion dollar project to develop natural gas resources in Iraq.

The Qatar News Agency (QNA) said the project consortium will consist of Basra Oil Company (30%), Total Energies (45%) and Qatar Energy (25%) after completion of the contractual relationship and obtaining the usual regulatory approvals.

For his part, Saad bin Sherida Al Kaabi, Minister of State for Energy, Managing Director and Chief Executive Officer of Qatar Energy, said that this project is important and vital for the energy sector of the sister Republic of Iraq, and looks forward to working with partners Total Energies and Basra Oil Company for the success of this project.

He continued: “I would like to thank the Iraqi government for its valuable support in reaching this agreement and for its trust in Qatar Energy as a reliable partner.”

It is worth noting that in September 2021, the Integrated Gas Expansion Project was signed, which is a strategic project that includes an investment of about US$10 billion in the design and construction of facilities to utilize large volumes of gas previously flared in the Basra region and supply at the power plant, in addition to building an integrated treatment and distribution system, sea water will be pumped into oil tanks to maintain pressure in these tanks.

Source: “Kena”

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