Kuwaiti Oil Minister Essam al-Marzouq announced the agreement with Iraq on the import of 50 million cubic feet per day of natural gas as a first stage, among the oil minister Jabbar al-Luaibi that the date of signing the contract is linked to some logistics and prices.
“The agreement with Iraq to import 50 million cubic feet per day of natural gas as a first stage,” he said, adding that “the Iraqi side promised to increase those quantities later to reach 200 million cubic feet per day, and that the agreement between the two sides applies For 10 years. ”
He added that “Kuwait is in the final stages of the adoption of imported gas prices from Iraq,” noting that “import will not be immediate, but there will be arrangements for the construction of a new pipeline and the construction of facilities to purify gas, before entering Kuwait.”
For his part, Iraqi Oil Minister Jabbar al-Allaibi said that “Kuwait and Iraq have gone a long way about importing Iraqi gas,” adding that “there are final negotiations on prices, and will reach an agreement soon.”
He added Allaibi that “a delegation from the Iraqi Oil Ministry will visit Kuwait next week to finalize,” noting that ‘the date of signing will be linked to some logistical matters and prices.
The statements were made by Iraqi and Kuwaiti ministers on the sidelines of the 99th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), which is hosted by Kuwait.
On October 4, 2017, Kuwait’s Oil, Electricity and Water Minister Essam Al-Marzouq announced his country’s approval of Iraq’s offer to export natural gas to Kuwait as part of its compensation.