Oil ministry says relations are improving across the energy and industrial sectors
Iraq and Saudi Arabia have discussed increased cooperation on developing gas fields, according to Iraq’s Oil Minister Ihsan Abdul-Jabbar.
In a statement he said bilateral relations were improving across the energy and industrial sectors, including developing gas resources, petrochemical projects, and implementing projects to improve electricity grids.
Jabbar’s statement was released after the fifth meeting of the Iraqi-Saudi Committee for Energy and Manufacturing Industries in Riyadh and comes after a surge in global demand for natural gas.
Two key projects that were discussed at the meeting were the Nibras Petrochemical Industries Project and the Gulf Electricity Interconnection Project.
Iraq’s minister of electricity, Adel Karim, stressed the importance of the Iraqi-Gulf electrical connection, and his ministry’s readiness to provide technical support to implement the project.
Karim also said that a deal would be signed “imminently” with Saudi-based Acwa Power to implement an investment project to generate 1,000 megawatts of solar energy in Iraq’s Najaf Governorate.
Iraqi Minister of Industry Manhal Aziz highlighted the importance of the Nebras petrochemicals complex.
The $8bn Nebras petrochemicals complex is due to be built in Iraq’s Basrah region in partnership with with UK/Dutch Shell.
Shell is expected to control 49 per cent of Nebras, which is planned to become one of the largest petrochemicals projects in the Middle East and North Africa.
Source: MEED, 26 OCTOBER 2021BY WIL CRISP