Iraq exported a second cargo of gas condensates, produced by the Basrah Gas Company, a joint venture between the state-run South Gas Co., Shell and Mitsubishi, the Oil Ministry informed in a statement, according to Reuters.
Trade Arabia added that a tanker carrying the 10,500cm of gas condensates left the southern port of Khor al-Zubair, heading to Fujairah, in the UAE, which was the same destination of the first cargo that was exported earlier in March.
Basrah Gas captures the associated natural gas produced with oil from fields in southern Iraq, processing it mainly to fuel power stations and as cooking gas for the domestic market.
Meanwhile, Gulf Times reported that Iraq’s Basrah Gas Co. is pushing back its output target for natural gas by at least a year as lower oil prices constrain spending, a senior official for the joint venture said. The company is also delaying construction of a $2b plant to process natural gas liquids.
According to further reports, Basrah Gas is currently pumping 600mscf/d of gas from oil fields in southern Iraq. The company further expects Iraq to produce 2bscf/d of associated gas by the end of 2018 instead of 2017 as originally planned due to the financial crisis.