QatarEnergy to participate in Iraq’s GGIP

QatarEnergy to participate in Iraq’s GGIP

QatarEnergy has agreed to hold a 25 percent share in the Gas Growth Integrated Project (GGIP), a multi-billion-dollar project aimed at monetizing and developing the natural gas resources of Iraq.

The GGIP consortium will be composed of Basra Oil Company (30 percent), TotalEnergies (Operator – 45 percent), and QatarEnergy (25 percent), subject to the finalisation of necessary contractual arrangements and obtaining customary regulatory approvals.

Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al Kaabi said, “We thank TotalEnergies for inviting us to partner with them and we thank the esteemed Iraqi Government for welcoming us to be part of this partnership. We are pleased to be part of this significant development, which is important for Iraq’s energy sector, and we look forward to working with TotalEnergies and Basra Oil Company to progress it to fruition. I would like to express our appreciation to the Government of Iraq for their valuable support to reach this point, and for the trust, they have placed in QatarEnergy as a reliable partner.”

Signed in September 2021, the GGIP is a key strategic project that involves investing approximately $10 billion to design and construct facilities for recovering significant volumes of otherwise flared