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Natural gas
Iraq gives green light to Shell gas deal
WORSENING power shortages may have played a pivotal role in prompting the government to rubber-stamp a $17bn deal with Shell to capture and sell associated gas from southern oil projects. The Iraqi government's end-June ratification of the supermajor's heads of agreement with state-owned South Gas (SGC), initialled in September 2008, also suggests a growing acceptance among Iraqis of the need for international oil companies' (IOCs) expertise if the country is fully to develop its oil and gas resource potential. The Shell agreement ran into strong opposition from Iraqi policymakers two years ago, amid concerns that the no-bid deal appeared to grant Shell a virtual monopoly over gas reserves in southern Iraq. Many senior Iraqis feared the joint-venture agreement would also starve Iraqi downstream industries of cheap gas feedstock. The Basrah Gas (BGC) joint venture – ...Click here to continue reading Natural gas
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