Genel sees Iraqi Kurdish gas heading to Turkey in 3 years

Genel Energy Plc, which operates two natural gas fields in the Kurdistan Regional Government (KRG) in northern Iraq, anticipates that KRG natural gas will be exported to Turkey within three years.
Genel Energy Board Chairman Tony Hayward said on Friday that the two fields contain reserves of between 300 and 400 billion cubic meters of natural gas and that the Kurdistan region is slated to begin natural gas exports to the world market via these two fields. Genel Energy also said it plans to establish a joint company with the Iraqi Kurdish government to develop gas fields. Hayward added that the Iraqi Kurdistan region was exporting 600,000-700,000 barrels of crude a day.
Iraqand’s KRG Minister of Natural Resources Ashti Hawrami also said on Friday the region planned to export 10 billion cubic meters (bcm) of natural gas to Turkey over the next two years, but that this may slip to 2019.
Speaking at an Atlantic Council conference in Istanbul, Hawrami also said the region planned to increase its crude oil export capacity to 1 million barrels per day (bpd) by the end of 2016.
Arbil and Baghdad have been engaged in a dispute for nearly two years over the oil produced in the KRG. After Baghdad suspended budget payments to Arbil, the latter responded by selling its oil directly to buyers, sidestepping the control of the federal government. The two parties are reportedly in talks to work out a revenue-sharing agreement.

SOURCE: TODAY’S ZAMAN

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