Shell captures surplus gas from Iraq for about $17bn for the next 25 years. The fire lost during the process of ‘Flaring’ cam be captured and can be used in power stations so that the country will reduce its domestic power outage. This deal will help Iraq to generate more gas and lead gas industry in the Middle East beating the competitors Russia, Iran and Nigeria. This contract is considered to be one of the best overseas deals ever in the history of Iraq. The government will occupy 55% and the rest being shared by shell and Mitsubishi. Abdul Kareem Al-Luaibi , the minister of gas and oil said ” The under exploited resources of Iraq will be regained soon with the help of this remarkable agreement. This is going to be the new era in the field of gas industry in Iraq. Shell-Mitsubishi relationship is supposed to generate 15% on the initial investment.
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Shell signs ?11bn deal to fuel Iraq’s power stations with gas