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Iraq approves Shell gas deal


Iraq approves Shell gas deal


Iraq’s cabinet has approved a joint venture project with Royal Dutch Shell and Japan’s Mitsubishi to capture natural gas in oil fields in the southern region of Basra.

Almost 10 billion euros will be spent on new infrastructure to siphon off the gas and pipe it to storage facilities.

Currently it is mostly being burned off.

The Baghdad government intends to use the gas to generate electricity to address Iraq’s chronic power shortages.

Most Iraqis have electricity for only five to seven hours a day.

Once domestic power needs are satisfied the plan is to export gas abroad including to the European Union.

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