Iraq Signs Agreement with Siemens to Convert 120 million Cubic Feet of Gas into Fuel for Electricity

 Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
TT

Iraq Signs Agreement with Siemens to Convert 120 million Cubic Feet of Gas into Fuel for Electricity

 Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)

Iraqi Electricity Minister Ziyad Ali Fadel signed on Wednesday an agreement with Siemens Energy in Berlin to convert flared gas into fuel for electricity.
The agreement covers about 120 million standard cubic feet of gas within a period of 6 months and an additional 120 million standard cubic feet within one year, according to the Iraqi news agency (INA).

The agreement comes as part of the Iraqi government’s efforts to stop gas flaring and to invest it effectively in generating electrical energy, the Minister’s office said in a statement.

It is also part of Iraq’s commitment to the decisions of the Paris Climate Conference in preserving the environment and providing renewable energy sources.
The statement said the agreement is characterized by rapid implementation, as it includes investing about 120 million standard cubic feet (meaqf) of gas within a short period of 6 months, and an additional 120 (meaqf) within a period of one year.
The gas produced will be used to establish an electrical station with a capacity of 2000 megawatts, to enhance Iraq’s national electricity grid.

Siemens Energy CEO Christian Bruch commended the Iraqi government for its efforts in overcoming the obstacles that the energy industry has encountered for a long time.

“Iraq has been successful in constructing several infrastructure projects in the last few years that will help develop the actual capabilities of the Iraqi energy sector,” he said, according to the Ministry statement.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
TT

GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.