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Algeria in discussions for Iraqi oil and gas investment

Jan 08, 2018
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Algeria is in discussions with Iraq for partnership in oil and gas investment, the Iraqi oil ministry said after oil ministers of the two countries held bilateral trade talks.

Algerian Energy Minister Mustapha Guitouni, who arrived in Baghdad on Sunday, said his aim during the visit is to enhance bilateral cooperation between Iraq and Algeria in the field of gas investment and oil exploration among others, a statement on the Iraq oil ministry quoted him as saying.

Iraqi Oil Minister Jabar al-Luaibi expressed hope that concrete steps will be taken towards a partnership with Algerian state firm Sonatrach, mentioning specifically projects to develop Iraq’s gas wealth.

Iraq continues to flare some of the gas extracted alongside crude oil at its fields because it lacks the facilities to process it into fuel for local consumption or exports.

Algeria is a main supplier of gas to Europe, exporting it by pipelines to the continent and also shipping it on tankers after liquefying the gas in special plants.

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