Iraq Plans $10-15 Billion Investment for Gas Self-Sufficiency and Flaring Elimination
Iraq plans a $10-15 billion investment to achieve natural gas self-sufficiency and eliminate gas flaring, as outlined by financial adviser Mudher Mohammed Saleh. The initiative involves a three-phase strategy focused on expanding gas processing, constructing pipelines, and supplying gas to the electricity and industrial sectors, with expected benefits including job creation and environmental improvements. Funding will be sourced from government investments, partnerships, and innovative financing methods.
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Iraq aims to achieve self-sufficiency in natural gas and eliminate gas flaring, requiring $10 billion to $15 billion in investments, according to Mudher Mohammed Saleh, financial adviser to Prime Minister Mohammed Shia Al-Sudani. The strategy involves a three-phase roadmap focusing on gas processing plant expansion, pipeline construction, and direct supply to the electricity and industrial sectors.
The first phase improves efficiency in capturing associated gas, while the second phase aims to eliminate flaring and meet domestic demand. The final phase will channel surplus gas into petrochemical industries and exports.
The plan includes modernizing refineries to reduce crude oil exports and increase refined product shipments. Funding will come from government investments, partnerships, and innovative financing, with expected annual savings, job creation, and environmental benefits.
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