Tuesday, February 20, 2018

Iraq Petroleum 2018 — Natural Gas Must Be an Asset for Iraq

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My report “Iraq Petroleum2018 — Natural Gas Must Be an Asset for Iraq” has been published on February 20, 2017, by Iraq Business News

February 20,

LONDON, United Kingdom

ABSTRACT — On February 27-28, 2018, the C.W.C. Group, an energy and infrastructure conference, exhibition and training company, will organize in Berlin, Germany, the twelfth edition of Iraq Petroleum, which is one of the major events concerning Iraq’s oil and gas sector. One of the main topics of Iraq Petroleum 2018 will be the development of Iraq’s natural gas reserves with the specific goal of strengthening energy-intensive industries to diversify the Iraqi economy. In Iraq, natural gas might really be the key driver to develop additional industrial sectors. In fact, natural gas may be used for power generation (electricity), petrochemicals, fertilizers, and other heavy industries in which gas is the primary feedstock. In this regard, some analysts might object that the development of these new industrial sectors would not really change the picture for Iraq because its economic development would still be too linked to the oil and gas sector—in practice Iraq’s economy would continue to be overaffected by the price of oil and gas. This observation is by no means wrong, but it’s also true that, apart from increasing oil exports (and in this regard, it will be important to see how Iraq will deal in the future with OPEC’s quota restrictions) to improve its economic standing Iraq does not have many alternatives to developing its natural gas resources and then using them to add other industrial sectors to the economy.

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What Did Iraq Export in 2016? — Source: The Atlas of Complexity, Harvard University