Iraq Signs Agreement With Siemens To Use Flared Gas
Date
3/29/2024 7:01:00 PM
(MENAFN- Iraq Business News) By John Lee.
Ziad Ali Fadel, Iraq's Minister of Electricity, announced the signing of an agreement with Siemens of Germany to convert associated gas into electricity within six months.
The minister signed the agreement in Berlin, Germany, aiming to convert associated gas into electrical energy to sustainably and securely meet citizens' needs.
The minister emphasized that this agreement is part of the Iraqi government's efforts, led by Prime Minister Mohammed Shia' Al-Sudani, to end gas flaring and effectively invest it in electricity generation. This initiative aligns with the government's commitment to the Paris Climate Conference agreements to preserve the environment and provide renewable energy sources.
The agreement is notable for its rapid implementation, involving the investment of around 120 million standard cubic feet of gas within a short period of six months, along with an additional 120 million within one year. The produced gas will be utilized in the establishment of a 2000-megawatt power station to enhance the electricity network's capabilities and ensure supply stability.
The CEO of Siemens Energy praised the Iraqi government's efforts to overcome challenges faced by the energy sector over the years, affirming that Iraq has succeeded in recent years in establishing numerous infrastructure projects that will contribute to building genuine capacities in the country's energy sector.
(Source: Ministry of Electricity)
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