Kuwait: talks with Iraq to import gas instead of the remaining compensation

Kuwait: talks with Iraq to import gas instead of the remaining compensation

2017/10/4 9:32

Kuwait - talks with Iraq to import gas instead of the remaining compensation[Oan- follow – up]
Minister of Oil and Minister of Electricity and Water of Kuwait Essam Al – Marzouk said there are talks underway with Iraq on the import of Iraqi gas in exchange for compensation owed to the State of Kuwait, amounting to more than $ 4 billion due to the invasion of the former regime of the country.
In a statement to reporters on the sidelines of the German Embassy in Kuwait on the occasion of the National Day of the Federal Republic of Germany, Marzouk said that “part of the ongoing talks on the import of gas to Kuwait and we will see the impact soon.”
“We will soon sign the agreement with the Iraqi side and the understanding remains on the value,” he said, noting that “the volume of imported gas will start at 50 million cubic feet will increase to about 200 million feet.”
The State of Kuwait provided four options to meet the compensation instead of cash payment, and these proposed alternatives; the purchase of Iraqi gas at the agreed price between the parties and negotiate the reduction of the percentage of Iraq’s imports of oil and its derivatives.

alliraqnews.com