Anti-flaring programs are fired up by Iraq

After a long time of rising flaring in Iraq, political unrest in the country causes major damages in the initiative. However, with new investment, things are getting improved further.
Senior government advisor Thamir Ghadhban said that three new gas processing plants in southern Iraq will significantly reduce gas flaring at the nation’s sprawling oilfields. Work by producers during 2016 may have reversed the recent steep increase.
Iraq signed up to the WB’s Zero Routine Flaring (ZRF) initiative, which commits Baghdad to phasing out the systematic flaring of associated gas by the year 2030, on May 10.
The Iraqi oil ministry’s adoption of anti-flaring provisions in its oilfield licensing contracts paves the way for Baghdad to meet this goal, provided it is underpinned by strong political will.
Iraq's decision to join the initiative is a coup for the bank. Gas flaring in Iraq rose from 13.3bn in 2013 to 16.2bn in 2015. As a result, Iraq turns into the world’s biggest flaring nation after Russia. Had that 16.2bn wet gas been processed and monetized, it would have saved Iraq $2.5bn.
The World Bank says that the amount of gas flared in Iraq could support roughly 8.5 GW of new generation capacity.
It adds that gas shortages have led the frequent use of imported fuel, costing the country an estimated $6bn-$8bn/yr.
Last Update:: 02/07/2017
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