Al-Hakim: Iraq could invest in gas, end flaring
Shafaq News/ Iraq can export associated gas from its fields after halting its flaring and investing in it, Ammar al-Hakim, leader of the National Wisdom Movement (Al-Hikma), said on Wednesday.
In his speech at the University of Basra on the sidelines of his tour to Iraq's southernmost province, al-Hakim said, "Most of Basra's lands belong to the Ministry of Oil, even though they are agricultural lands," calling for the adoption of modern extraction technology to allow people to live their lives and pursue their interests while implementing agreements with operating oil companies regarding the employment of the unemployed.
He emphasized the importance of ensuring that "Basra's contributions are proportional to what it offers to Iraq," adding, "We hold the university responsible for developing the oil industry. However, this does not negate the reliance on foreign investments."
Al-Hakim stressed the importance of investing in gas, halting its flaring, and transitioning this "blessing" from flaring to investment and eventually export. He added that Basra could become "an icon in the region."
Prime Minister Mohammed Shia Al-Sudani announced at the end of January 2025 that his government had succeeded in stopping the flaring of associated gas by 70%.
The Iraqi government has set a deadline of 2028 to completely stop gas flaring in the country. In this context, Al-Sudani asserted that a country producing more than 4 million barrels per day cannot continue importing petroleum products and gas.
The Iraqi Ministry of Oil, along with Siemens Energy and Schlumberger, signed a Memorandum of Understanding to invest in processing and stopping gas flaring from oil fields.
Iraq has been forced to import gas from neighboring Iran, a process that requires periodic exemptions from Washington's sanctions, with the current exemption expiring in June.
Presently, the Iraqi government faces a significant challenge after US President Donald Trump recently canceled the waiver granted to Iraq for importing electricity and gas from Iran as part of new sanctions on Iran.
