GuangDong Wagna Power Technology Co.,Ltd

Iraq’s electricity supply-3
- Jun 22, 2018 -



The natural gas recovery project did not go as smoothly as some people expected. The Iraqi government hopes to end the oil torch gas phenomenon by 2015. However, the three fields in this project now have a daily average natural gas output of 1.1 billion cubic feet. Currently, Basra Gas can recycle 400 million cubic feet per day. The company said that by 2016, its recycling capacity will reach 1 billion cubic feet. But by that time, oil production in the oil fields will increase, and natural gas production will increase. It is understandable that not all southern oil exploration companies are willing to adjust their oil exploration plans to facilitate the establishment of natural gas recovery facilities and pipelines.

 

blob.png

 

Iraq must establish new power plants and persuade foreign private companies to invest in new power plants. However, the large-scale tendering plan for establishing four independent power plants ended in failure in 2011. Recently, two small-scale agreements were approved; in addition, the Iraqi government is still discussing more tenders. However, Georges Sarraf, one of Booz & Company's cooperators, said that many large investors have been deterred by the lack of a clear investment framework and provisions for fuel supply contracts. Booz & Company has helped the Iraqi government design a long-term energy plan.

 

 blob.png


Without private capital, by 2035, the Iraqi power sector would need to provide 140 billion U.S. dollars for electricity supply. Oil revenue will pay for this part of the expenditure, just as before. However, Saraf said that the Iraqi government authorities have not been able to operate multiple projects at the same time. Since the United States invaded Iraq in 2003, many engineers have fled the country.