Iraq set to be major gas supplier to EU

Iraqi oil minister Hussain Al-Shahristani has said that Baghdad could be Europe’s major gas supplier within 2-3 years.

“I have confirmed to my European colleagues of Iraq’s commitment to supply Europe with all its needs, not only in oil, but also gas,” he told reporters on Thursday.

He said that “Iraq will be the major supplier” of European gas and he hopes to be “able to do this within 2-3 years”.

Al-Shahristani met with EU commissioners in Brussels, including energy chief Andris Piebalgs and external relations head Benita Ferrero-Waldner.

“One of the main tools we have to improve our security of supply is diversification,” said Piebalgs.

“Establishing stable frameworks for energy cooperation with potential new suppliers is therefore a priority for us.”

The energy commissioner also hinted that Iraqi gas would be added to the Nabucco pipeline, which is set to transport gas to Europe from new suppliers in the Middle East and Caspian regions, via Turkey.

The Nabucco project is an effort to make Europe less reliant on erratic suppliers such as Russia, which currently provides the EU with the majority of its gas.

“Yes, it is part of the Nabucco strategy but Iraq is not part of the Nabucco pipeline,” said Piebalgs.

He added that Nabucco is “mostly about the production and shipping of gas to Europe” but said that there is a “possibility that Iraqi gas could be added to the Nabucco stream”.

Al-Shahristani said Iraq’s priority was to develop a “gas masterplan”, which includes building extensive facilities in the south of the country.

The two energy chiefs also spoke about cooperating in renewable energy in the coming months and years.

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