Iraq concludes gas agreement with Shell and Mitsubishi


Iraq concludes gas agreement with Shell and Mitsubishi
	Posted on 9 Jul 2010

	Iraq signed a multi-billion dollar deal with Royal Dutch Shell and Japan’s Mitsubishi which involves the much needed electricity supply from natural gas. The two state-owned South Gas and Basra Gas would take a 51% stake in the contract while the foreign companies would take up the rest, according to official statements. The joint deal with Shell and Mitsubishi would exploit gas in the Rumaila, Zubair, West Qurna and Majnoon fields near Basra. Existing power plants in Iraq have proved incapable of generating sufficient electricity to meet peak summer demand. Royal Dutch Shell was founded in 1991 and specializes in the exploration and production of oil and gas, refining, petrochemicals production, marketing of lubricants and other oil products, and supply of marine and aviation fuel.


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