Gas Flaring In Iraq - A Story Worth USD $40bn/Year Gas flaring - TopicsExpress

Gas Flaring In Iraq - A Story Worth USD $40bn/Year Gas flaring in southern Iraq have reached an alarming state, hitting record high of 1.2 billion cubic feet a day at a value of USD $6 billion a year, wasting a much needed feedstock enough to fuel the countrys electricity deficit. Unfortunately, this has been going unchecked for many years. Moreover, the financial loss is continuing to rise exponentially. This commodity is rich in liquids and components suitable to sustain Iraqs petrochemical industry, and always considered to be an economic multiplier. The full impact of flaring had made Iraq lose USD $40 billion a year due to burning expensive liquid fuel and leaving unserved industrial sectors deprived being a victim of energy poverty, while rendering the opportunity cost unaccounted for. In conclusion, gas flaring has made Iraq lose annual revenues equal to Egypts national budget before the Arab Spring of 2011. Luay Al Khatteeb

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