Iraqi President Lauds Progress Toward Launching Gas Projects Across Iraq

Iraqi Presidency

Iraqi President addressing the GECF.

Iraqi President lauded progress toward launching gas projects across Iraq at the Gas Exporting Countries Forum's (GECF) 7th summit.

The Iraqi Presidency reported that Iraqi President Abdullatif Jamal Rashid attended the GECF's 7th summit in Algiers  on Saturday, March 2, 2024. Upon arrival, President Rashid was greeted by Algerian President Abdelmadjid Tebboune.

In his address at the Forum, President Rashid spoke of efforts worldwide to reduce greenhouse gas emissions while ensuring energy security.

“The lack of energy is no less harmful to human beings than the effects of global warming,” he said. “The number of people who lack access to energy sources around the world has reached almost a billion, and this number is expected to increase in the coming years, especially as fuel companies continue to push for alternatives to cheap, high-emission fuel sources.”

He noted that COP 28's summary document provides an overview of the key outcomes of global climate action across the pillars set by the COP 28 Presidency, and highlighted that fast-tracking a just, orderly, and equitable energy transition is one of the key pillars.

“Our national vision of the gas industry has been based on this concept from the outset, and has existed for years; because the gas industry can play a crucial role in the energy transformation process, it is essential that it is incorporated into the country's plans and objectives,” said President Rashid.

He added that Iraq is currently undertaking the first tender for the implementation of carbon reduction projects funded by carbon bonds, for a gas combustion project east of Baghdad.

“Oil-rich countries are able to play a crucial role in this field by improving energy efficiency, since climate restrictions are intended to combat the climate effects of fossil fuels rather than the fuel itself,” he said.

In the same vein, the Iraqi President said that a renewable energy law has been drafted to establish a structure for managing this file, and has been presented to the Ministerial Council of Energy.

President Rashid referred to significant efforts underway to promote the use of natural gas use, citing a gas project commissioned at the end of 2023, and several other gas project projected for launch across the country this year.

President Rashid's speech is as follows:

“Your Excellency Abdelmadjid Tebboune, President of the seventh summit of the Gas Exporting Countries Forum (GECF).

Ladies and gentlemen,
Peace, mercy and blessings of God be upon all of you.

To begin with, I wish to express my sincere gratitude for your kind invitation to participate in such an important global event, which takes place at a time when the world is faced with climate and energy challenges, which are the prelude to the era of energy transition, as well as the implications of these challenges for global energy security. Energy must remain stable and there must be confidence in its stability for the world to prosper, just as the world needs energy in general.

Efforts are being made worldwide to achieve a balance between reducing greenhouse gas emissions and ensuring energy security. The lack of energy is no less harmful to human beings than the effects of global warming. The number of people who lack access to energy sources around the world has reached almost a billion, and this number is expected to rise in the coming years, especially as fuel companies continue to push for alternatives to cheap, high-emission fuel sources. Thus, the international community has been motivated to develop a plan that will allow a fair energy transition, preserve the planet's climate, and ensure that no one is left behind.

Over the past several decades, fossil fuels have accounted for more than 80 percent of the global energy mix, and this percentage is forecasted to remain above 60 percent by the middle of this century. Over the past ten years, Iraq's Ministry of Oil has doubled its oil production to 4.7 million barrels, accounting for a fifth of the global increase in oil production.

COP 28's summary document provides an overview of the key outcomes of global climate action across the pillars set by the COP 28 Presidency: fast-tracking a just, orderly, and equitable energy transition is one of the key pillars.  Our national vision of the gas industry has been based on this concept from the outset, and has existed for years. The gas industry can play a crucial role in the energy transition process, and it is essential that it is incorporated into the country's plans and objectives.

In the near and long term, gas plays an active role in the energy sector because of its relatively lower pollution levels, as well as its integration and participation with clean energy sources. As a result of its flexibility, it can work in the power generation sector and the necessary industries due to its efficient energy generation technologies, including combined cycles power plants that have an efficiency of almost 65 percent, or because it is a raw material for petrochemical industries, essential to the world under all circumstances.

As a result, the Gas Exporting Countries Forum (GECF) is currently playing a crucial role in providing a level of stability that is beneficial to both exporters and consumers, as well as supporting the gas industry itself, which requires significant effort and financing to produce and export gas. Iraq expressed its intention to join the Forum as an observer in preparation for becoming an active member, based on its belief in the Forum's role, particularly since the Forum seeks to coordinate visions and positions with the Organization of Petroleum Exporting Countries (OPEC).

Accordingly, we launched complementary projects to the fifth-round and sixth-round projects, most of which are promising gas fields. Furthermore, the Cabinet approved recommendations for the establishment of the first liquefied natural gas platform in the country at the FAW port, strengthening the country's energy security and diversifying its sources of energy.

A deliberate effort was made to promote the use of natural gas, and we have made progress in this regard. It should be noted that a gas project was commissioned at the end of 2023, and the ministry is currently working hard to launch more gas projects across the country this current year.

As stated in COP 28's summary document, renewable energy should be used three times more by 2030 than it is today. There was nothing new about this vision in Iraq's energy strategy. By adding solar generating capacities, Iraq has made significant progress in the field of renewable energy. For this purpose, memoranda of understanding and contracts have been signed with specialized international companies.

At present, Iraq is undertaking the first tender for the implementation of carbon reduction projects funded by carbon bonds, for a gas combustion project east of Baghdad. Oil-rich countries are able to play a crucial role in this field by improving energy efficiency, since climate restrictions are intended to combat the climate effects of fossil fuels rather than the fuel itself.

A renewable energy law has been drafted in order to establish a structure for managing this vital file, as well as to enact the necessary legislation to expedite its implementation. This was presented to the Ministerial Council of Energy.

Our objective in gathering here today is to highlight the role that the gas industry will play in the future of energy. Additionally, we are meeting to emphasize the role of the Gas Exporting Countries Forum as a key player in driving market stability and working in tandem with the Organization of Petroleum Exporting Countries (OPEC).

I would like to take this opportunity to acknowledge Algeria's historical significance. Through its pioneering work, it has achieved historical consensus among oil exporting countries, both within and outside of OPEC, by stabilizing oil prices as well as the global oil market.

Finally, we are pleased to be in Algeria, the country of a million martyrs. Our country is also proud to have been honored with the first official visit by the national government of Algeria after its independence.

Recalling the struggle of the Algerian people, we reaffirm that we are fully committed to supporting the Palestinian people, who are facing unjust aggression. Despite the fact that the world is watching, the brutal efforts to exterminate the Palestinian people are taking place in full view of the world. Until the Palestinian people are provided with their full rights, including the establishment of their own independent state with the capital at Al-Quds Al-Sharif, security and stability will not be achieved for the entire region.

Thank you.”



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