Iraq targets 20% gas flaring reduction by ’24

Iraq, OPEC’s second-largest oil producer, aims to cut gas flaring to 20 per cent by the end of 2024, leveraging new projects to meet rising demand and reduce reliance on imports, according to Ezzet Saber Ismael, Deputy Minister for Gas Affairs.

The country, which flares a significant portion of its gas alongside Russia, Iran, and the US, captured 67 per cent of gas from oil fields in late 2024. New initiatives, including TotalEnergies’ $2 billion project at the Artawi field, are expected to increase gas utilisation, with 50 million cubic feet per day (mcfd) added by 2024 and scaling to 300 mcfd by 2027.

Iraq has reduced gas flaring from 47 per cent in 2021 to 33 per cent in 2023, targeting zero flaring by late 2029. However, past goals, including a 2023 elimination target, have slipped.

Plans also include a liquefied natural gas terminal at Grand Faw port, with invitations for construction bids to be issued in January, primarily to US firms. The facility will store up to 300,000 cubic metres.

Iraq currently produces 3.122 billion cubic feet of gas daily, flaring about 1.048 billion cubic feet as of December 22, 2024.

Attribution: Bloomberg

Subediting: M. S. Salama