Iraq intends to launch new gas projects in 2024 to boost its natural gas production and gradually phase out gas imports, the country’s President has said.

Speaking at a gas summit in Algeria at the weekend, Abdul Latif Rashid said the new projects would be part of the fifth and sixth international licensing rounds.

He said gas projects would be supported by a new LNG platform to be built in Faw Port, under construction in South Iraq.

“We are progressing with careful and studied steps to exploit gas produced in 2023 and before… the Oil Ministry is also preparing to launch several new gas projects in various parts of Iraq,” Rashid added.

The President told participants that Iraq has managed to nearly double its crude oil production capacity over the past 10 years to 4.7 million barrels per day (bpd) currently, adding that the increase accounts for nearly half the global oil output rise.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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