Iraqi is seeking to export gas via Arab pipeline to Middle East and Europe

The Iraqi oil minister stated on Wednesday that Iraq was in talks about the possibility of exporting the surplus of natural gas across the Arab pipeline to Middle East and Europe.

Hussain al-Shahristani said Iraq was considering linking the Iraqi surplus of gas via the pipeline which starts from Egypt to export gas to the Arab countries and then to Europe.

Al-Shahristani was speaking during a news conference with the Egyptian Minister of Petroleum Sameh Fahmi who is visiting Baghdad.

Al-Shahristani said that Iraq is building a large number of gas stations and will export the surplus.

Iraq has the third largest global reserves of oil and the tenth largest gas reserves, but needs investments worth billions of dollars to repair the ravages of sanctions and wars.

The Production is still below the level where it was before the U.S. invasion in 2003 and the Oil Ministry is facing increasing pressure to boost production to help in overcoming the crisis of budget caused by lower oil prices.

The Government is also in dispute with the Kurdish regional government which has a high degree of autonomy in the north of the country.

The Kurdish regional government has welcomed on Monday the plan for natural gas worth eight billion dollars by the consortium of European and Arab companies, saying it would provide large quantities of gas for export to Europe via the Nabucco pipeline.

Al-Shahristani refused the contract because the agreement was signed without the participation of the Ministry of Oil.

Source: Iraq directory