Baghdad (NINA) – Chairman of the Cabinet's Advisors' Body, Thamir al-Ghadhban, said, "Iraq possesses huge reserve of natural gas, it will become major gas exporter of to neighbouring countries and Europe."
He told NINA on Wednesday, May 30, that, "International economic studies point out that Iraq possesses huge quantities of gas that will also be used for generating electricity, as well as for petrochemical industries and fertilisers."
Ghadhban added that all neighbouring countries, except Iran, are in need to import gas, as well as Europe because they badly are in need of gas.
As for the 4th round of concessions, Ghadhban said that it is very important to discover oil and gas reserves, because Iraq has large undiscovered quantities of reserved oil and gas.
The 4th round of concessions that has been initiated today, covers 12 sites, 7 of them are gas reservation area. In this round 47 Arab and foreign companies are taking part, including the Kuwaiti "Kuwait Energy", British "BP", Japanese "Mitsubishi", American "Chevron", Italian "Eni", Russian "Gas Brume and Lukoil", Dutch "Shell", French "Total" and Syrian "Oil General". / End.