March 20, 2016 - 12:55 AM EDT
Print Email Article Font Down Font Up
Iraq exports first natural gas shipment in its history

(AP) — A government spokesman says
has exported the first shipment of natural gas condensate in its history, a key development for the OPEC member struggling to feed a cash-strapped economy amid an expensive fight against the Islamic State group.

Oil Ministry spokesman Assem Jihad says a gas carrier sailed Sunday from the southern port of Umm Qasr with a cargo of about 10,000 standard cubic feet of gas in the form of condensates. Jihad wouldn't reveal how much the cargo is worth or the buyer.

The gas was produced by the Basra Gas Company, a joint venture between

state-run South Gas Company, Royal Dutch Shell and
Mitsubishi Corp.
has estimated natural gas reserves of 112 trillion cubic meters.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

Source: News (March 20, 2016 - 12:55 AM EDT)

News by QuoteMedia

Legal Notice