Latest news with #IzzatSaber
Zawya
05-03-2025
- Business
- Zawya
Iraq eyes giant gas field to tackle power shortages
OPEC member Iraq is banking on the development of a giant gas field in the Northern Kurdistan province to partly tackle its power shortages due to low gas supplies from Iran, an Iraqi official has said. The Kurdistan Region holds significant natural gas reserves, with the 'Chamchamal' field as the largest in the country due to its high purity levels of 97 percent [methane concentration], said Izzat Saber, Director of the Gas Affairs Department at the Oil Ministry. Quoted by Shafaq news agency, Saber said Chamchamal's high-purity gas can be directly harnessed for energy production. 'Iraq relies on natural gas for 45 percent of its electricity generation and has reserves capable of sustaining energy demand for the next 100 years,' he said. 'Despite its vast resources, Iraq continues to struggle with chronic power shortages, failing to provide round-the-clock electricity…but addressing this crisis requires more than increased production.' Saber stressed the need for power sector restructuring and improved consumption management through coordination between the government and citizens. Official data shows that Iraq's Kurdistan Region holds vast natural gas reserves, estimated at approximately 700 billion cubic metres, accounting for about 20 percent of Iraq's total proven reserves. It currently produces around 5.4 billion cubic meters of natural gas per year and output is forecast to nearly triple by 2030 and soar six-fold by 2040. (Writing by Nadim Kawach; Editing by Anoop Menon)
Shafaq News
04-03-2025
- Business
- Shafaq News
Iraqi Oil official: Chamchamal field key to energy future
Shafaq News/ Iraq's Kurdistan Region holds significant natural gas reserves, with the Chamchamal field as the largest in the country due to its high purity levels of 97%, a senior oil official said on Tuesday. The Iraqi Ministry of Oil's Gas Affairs Department Director Izzat Saber said, 'Kurdistan possesses immense gas wealth, making it a strategic resource for national energy needs.' He noted that Chamchamal's high-purity gas can be directly harnessed for energy production and that Iraq relies on natural gas for 45% of its electricity generation and has reserves capable of sustaining energy demand for the next 100 years. Despite its vast resources, Iraq continues to struggle with chronic power shortages, failing to provide round-the-clock electricity. Addressing this crisis requires more than increased production, Saber explained, emphasizing the need for power sector restructuring and improved consumption management through coordination between the government and citizens. Official data shows that Iraq's Kurdistan Region holds vast natural gas reserves, estimated at approximately 700 billion cubic meters, accounting for about 20% of Iraq's total proven reserves, and is home to some of the purest natural gas in Iraq. It currently produces approximately 5.4 billion cubic meters of natural gas per year, with projections indicating that output could triple by 2030 and sixfold by 2040.
Iraqi News
03-03-2025
- Business
- Iraqi News
Iraq achieves self-sufficiency in liquefied gas
Baghdad ( – The Iraqi Ministry of Oil revealed on Sunday that it has achieved liquefied gas self-sufficiency and began exporting the extra supplies to overseas markets. This step represents an important milestone towards strengthening energy security in the country and lowering dependency on imports. According to the Iraqi Ministry of Oil, this development is part of the government's plan to expand the gas industry and optimize the use of the country's natural resources. Over 8,000 tons of liquefied gas are produced every day, according to the Iraqi Oil Ministry, demonstrating Iraq's capacity to supply domestic demand while also having the potential to export more to support regional markets. The announcement followed a visit by the Deputy Minister of Oil for Gas Affairs, Izzat Saber, to a gas cylinder factory in the southern Iraqi province of Basra, which is part of the ministry's efforts to encourage energy-related projects and strengthen the role of the private sector in growing the domestic industry. During the visit, Saber underlined the necessity of supporting initiatives to produce metal and plastic gas cylinders according to international standards, stressing that the growth of these businesses has a good influence on the national economy. Saber confirmed that achieving self-sufficiency in liquefied gas in Iraq represents a strategic shift in the national energy policy since Iraq no longer depends on imports to meet its local needs. Due to the excess output, it became possible to export large quantities to overseas markets, increasing investment opportunities and enhancing revenues in this crucial sector.
Shafaq News
02-03-2025
- Business
- Shafaq News
Iraq exports surplus liquefied gas
Shafaq News/ Iraq achieved self-sufficiency in liquefied gas production and is now exporting surplus to international market, an Iraqi official announced on Sunday. The Iraqi Ministry of Oil's Gas Affairs Department Director, Izzat Saber, explained in a statement that liquefied gas production has exceeded 8,000 tons per day, adding that plans are being implemented to expand the use of liquefied gas instead of various types of liquid fuel, 'supporting investment projects in industrial, service, and residential sectors.' He stressed that investment projects play a crucial role in 'advancing and developing the national industry.' Saber further underscored the need to support the production of steel and plastic cylinders in line with international standards, emphasizing the importance of establishing effective marketing and consumption strategies in coordination with the relevant authorities at the State Company for Gas Filling and Services, in order to align with the vision, plans, and objectives that foster industrial growth. In January, Iraq's Oil Minister, Hayan Abdul Ghani, launched of multiple gas investment projects, calling on international companies to submit bids for the upcoming licensing rounds.
Shafaq News
28-02-2025
- Business
- Shafaq News
2025 Erbil Forum: Iraq seeks gas alternatives after US sanctions on Iran
Shafaq News/ Iraq is exploring natural gas imports from Qatar and Algeria after the United States revoked its exemption allowing purchases from Iran, Deputy Oil Minister for Gas Affairs Izzat Saber revealed on Friday. Speaking at the Erbil Forum, hosted by the Rudaw Research Center, Saber emphasized the government's search for alternative energy sources. 'Due to US sanctions, Iraq can no longer import gas from Iran as it did in previous years,' he stated, adding that an agreement with Turkmenistan is also unfeasible since the gas would have to transit through Iran. The Deputy Minister also announced that Prime Minister Mohammed Shia Al-Sudani has approved an increase in gas supply to the Kurdistan Region (KRI), noting, 'Gas exchange between the KRI and Baghdad is crucial and mutually beneficial.' Iraq has been investing heavily in its gas sector to enhance self-sufficiency. 'Since 2020, Iraq has launched a $10 billion gas investment initiative, expected to generate up to $30 billion in revenues by 2030,' Saber remarked. He highlighted foreign involvement in the sector, particularly French energy major Total Energies, which is investing $25 billion in Iraq's oil, gas, and energy industries. Saber underscored the complexity of these projects, noting that 'they require advanced technology and extended development timelines.' As for ending associated gas flaring, the official affirmed that the matter remains a top priority for the government. 'By 2030, Iraq will no longer be among the top three countries in gas flaring,' Saber asserted, reaffirming the country's commitment to the 2015 Paris Agreement on emissions reduction.
