On Wednesday, Izzat Sabre Ismail, Undersecretary of the Ministry for Gas Affairs, declared that by the end of the present year 2024 the rates of related gas investment projects will grow to around seventy percent.
This occurred in his remarks at the opening of the second berth at Umm Qasr Port in Basra for exporting liquefied gas and condensates.
Ismail said in his speech that the port will give flexibility in the export operations of liquefied gas and condensates, which currently amount to 50 tonnes per month, and it is hoped that by the beginning of 2025 it will reach 80 tonnes per month noting that with the increase in production rates it will reach 125 tonnes per month.
He underlined that the ministry is running several strategic initiatives to invest related gas in several oil fields and that by the end of this year gas investment rates would climb to 70 percent.
Attached to the inaugural event were several Ministry officials, Southern Gas Company and Basra Gas Company officials, as well as local Basra Governorate officials.
