Iraq is planning large investments in the development of gas fields in order to be able to export this energy resource to the EU countries and other states. This was stated by the Minister of Foreign Affairs of the Republic Fuad Hussein at a press conference in Brussels – the minister arrived in the Belgian capital to participate in meetings of the Council for Cooperation with the European Union.
“Iraq, which is already an oil-producing country, is also becoming a gas-producing country. We are investing in gas fields to use gas in the domestic market, and in the future we expect to export gas to other countries, including Europe,” the diplomat explained. His quotes RIA News.
At the same time, Iraq is already exporting oil to the EU. Moreover, S&P Global previously reported that the Iraqi state oil company plans to build up supplies of this energy carrier to the European Union against the backdrop of a reduction in oil imports from Russia.
In March 2023, the Deputy Prime Minister of Iraq also said that the country is ready to increase oil production. However, this will happen if OPEC+ decides accordingly.
