Kuwait: Iraqi gas agreed to import does not exceed 5% of our consumption
Kuwait: Iraqi gas agreed to import does not exceed 5% of our consumption
Posted, 2017/10/16 21:32
[Ayna-follow-up]
Kuwaiti Oil Minister and Minister of Electricity and Water Issam al-Marzouq said that the quantities of gas agreed to import from Iraq is about 50 million cubic feet.
“This quantity does not exceed 5 percent of the amount of gas consumed by Kuwait during the summer,” Al-Marzooq told reporters on the sidelines of Kuwait’s third oil and gas conference organized by the Kuwait Petroleum Society.
“These quantities will not affect the future contracts signed by Kuwait with international companies that supply them with gas.”
Oil Minister Jabbar Ali al-Allaibi announced on September 21 that the export of Iraqi crude gas to Kuwait will be soon.
“The joint technical committee between Iraq and Kuwait has completed all the procedures related to this and is now putting the final touches on the implementation of the Convention during the coming period,” a statement of the ministry said. “The export of Iraqi crude gas will be surplus to the need of Iraq from Rumaila to Kuwait”.
“The agreement provides for the export of [50] million standard cubic feet per day of raw gas from Rumaila field in the province of Basra within the first phase up to 200 million standard cubic feet per day within the second phase of the Convention.”
The Kuwaiti Oil Minister said on the fourth of this month that there are talks currently underway with Iraq on the import of gas from him in return for compensation owed to the State of Kuwait, amounting to more than 4 billion dollars by the invasion of the former regime of the country.
Kuwait has 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
