On Thursday, the Iraqi Ministry of Oil announced that the Basra Gas Company has set a new record for exports, with a capacity of 25,000 tons of condensate (C5). This achievement is part of the company’s efforts to increase the quantities exported through Umm Qasr Port in Basra, which will help boost the country’s economy. According to the authorized director of the Basra Gas Company, Andrew Weber, this milestone will not only raise export rates but also increase Iraq’s financial revenues. Furthermore, this is the highest export rate achieved by the company, which will allow them to expand their exports to new markets.
The speaker expressed that Iraq has the potential to become a major player in the global market for liquefied petroleum gas and condensates. He also stated that the country aspires to reach the level of developed nations in terms of exports. In a related statement, Sultan Al-Maliki, the Director of the Commercial Authority of Basra Gas Company, credited the success to the collaborative efforts of various teams within the company, and expressed pride in the achievement.
The ability to transport larger shipments of condensates to markets in the east, where they have a higher value in the chemical industry, was highlighted by the speaker. The Basra Gas Company has been able to increase its shipment size from 16,300 tons to 25,000 tons thanks to higher production levels and the tanker “Marlin.” This allows the company to increase its capacity and consider future export opportunities.
It is important to point out that the Basra Gas Company has significantly increased its production of associated gas since its establishment in 2013. In doing so, it has successfully prevented over 160 million tons of carbon dioxide from being released into the atmosphere. With the Basra Gas Liquefaction Plant now fully operational, the company is expected to prevent an additional 10 million tons of carbon dioxide from polluting the air. This will enable the company to eliminate a total of around 30 million tons of carbon dioxide annually, as per the Ministry of Oil. On February 20, 2016, the Iraqi Ministry of Oil also announced the export of their first shipment of gas condensates.
