Iraq’s proposed LNG [Liquefied Natural Gas] import terminal project in the under-construction Grand Al-Faw Port in Basra is expected to start operations in two years, the official Iraqi News Agency (INA) said in a report.

The project, the OPEC member’s first LNG import terminal, has been approved by Prime Minister Muhammad Shia al-Sudani, the Undersecretary for Gas Extraction Affairs, Izzat Saber, told INA.

The report didn’t disclose details on investments or the terminal’s capacity.

The project would enable Iraq, which controls the world’s fifth largest proven oil deposits, to diversify its gas supplies. The OPEC member is heavily reliant on neighbouring Iran for gas, which is supplied through pipelines.

He said the government has embarked on various projects and programmes to meet the country's growing energy demand, adding that in 2024, associated gas projects will deliver 500 million standard cubic feet/day (mscf/d) of gas in the first stage.

He pointed out that the in the coming two months, the Halfaya gas complex will produce 300 mscf/d while Nasiriyah and Al-Gharraf complex will produce 67 mscf/d, and the Fayhaa complex in Basra will produce 130 mscf/d.

Read more: Iraq to build a platform for imported gas

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Iraq burns 40% of gas production capacity: report

(Writing by Majda Muhsen; Editing by Anoop Menon)


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