On Thursday, the Iraqi Ministry of Oil said that the Basra Gas Company had achieved the maximum rate of export with a capacity of 25,000 tons of condensate (C5), in an effort to increase the amounts shipped through Umm Qasr Port in Basra to help the country’s economy.
In a statement, the ministry quoted Andrew Weber, authorized director of the Basra Gas Company, as saying that exporting 25,000 tons of condensates is a significant achievement that will boost export rates and increase Iraq’s financial revenues, noting that this export process is the highest for the Basra Gas Company and will allow the company to expand exports to new markets.
He went on to remark, “Iraq has the ability to be a global player in the field of liquefied petroleum gas and condensates, and we have an ambition to be among the developed countries in exports.”
On a similar note, Sultan Al-Maliki, Director of the Commercial Authority of Basra Gas firm, stated that “this achievement is the result of cooperative efforts between many bodies and teams in the company, which made this success a source of pride for it.”
He stated that “the ability to load larger shipments will enable importing companies to transport these shipments to destinations and markets further east, where there is a higher and better value for using condensates in the chemical industry.”
It is worth noting that the Basra Gas firm was loading 16,300 tons of condensate in the previous period, and with the rise in production, the firm was able to safely and effectively expand the cargo to 25,000 tons utilizing the tanker “Marlin.” This entails loading larger goods, allowing the firm to expand its present capacity. And the prospects for export.
It is worth mentioning that the Basra Gas Company expanded its related gas output by more than thrice since its inception in 2013. It has so far prevented the release of more than 160 million tons of carbon dioxide into the environment.
According to the Ministry of Oil, the full functioning of the Basra Gas Liquefaction Plant would save an extra 10 million tons of carbon dioxide from contaminating the atmosphere, enhancing the company’s potential to eradicate around 30 million tons of carbon dioxide yearly.
The Iraqi Ministry of Oil confirmed the export of the first Iraqi consignment of gas condensates on Sunday, February 20, 2016.