Iraq's Kurdistan region, which seeks to become a net gas exporter to regional markets, is capable of making up for at least part of the oil shortfall that Europe is facing, its prime minister said.
Masrour Barzani told the Global Energy Forum that this was conditional on whether “our partners in Baghdad are prepared to work with us".
The semi-autonomous northern Iraqi region continues to develop its export potential and already has “an oil export capacity, which acts as an essential economic lifeline for us and a vital potential supply for our partners”, he said on Monday.
Iraq's Kurdistan region has aspirations to become an energy centre in the region and wants to transform into a net exporter of gas to the rest of Iraq, Turkey and Europe in the near future.
“I am confident that [Iraqi] Kurdistan will soon become an important source of energy [to meet] the world's growing demand,” he said.
The US and its allies in Europe are looking to cut their dependence on Russian hydrocarbons due to Moscow's military offensive in Ukraine.
The US announced earlier this month that it would ban crude, gas and coal imports from Russia, while the UK and Europe have said they will phase out imports of Russian oil and gas during the course of the year.
Europe, which relies on Russia for about 40 per cent of its gas and about 30 per cent of its crude imports, is looking at alternative sources to meet its energy needs, including markets in the Middle East.
The last few years have been transformational in terms of the development of Kurdistan’s oil and gas sector.
In the first half of 2021, the region exported 77.35 million barrels through the Kurdistan export pipeline and also allocated 3.95 million barrels to local refineries, according to an official government report audited by Deloitte.
The region generated $4.1 billion in revenue from crude oil export sales during the period, with net revenue after payments to oil producers, pipeline operators and repayments to the buyers reaching $1.74bn.
However, the region needs investment to boost gas production capacity as demand in the local market is already double the current production rate, Mr Barzani said.
We in [Iraqi] Kurdistan have the capacity now to make up for at least some of the shortfall of oil in Europe, if our partners in Baghdad are prepared to work with us
Masrour Barzani,
prime minister, Kurdistan region
He stressed that Iraq's Kurdistan region will become an important part of the global energy supply chain with the help of partners and oil and gas companies that have remained committed to it despite challenges.
The government values its partnership with energy companies and a recent ruling by Iraq's Federal Supreme court does not affect its commitment and contracts with investors in the oil and gas sector, he said.
In February, Iraq's top court ruled that a 2007 oil and gas law governing production, revenue and exports in the Kurdish region was unconstitutional.
Mr Barzani said the ruling has no merit and Kurdistan will do “all in its power” to protect the contracts that have been reaffirmed by legal experts and international courts.
“I would like to reiterate to you all that my government remains committed to the contracts that have been signed between us. These contracts are in line with our oil and gas law and the Iraqi constitution, and they are a bedrock of our shared future,” he said.
“Investors in [Iraqi] Kurdistan have the right to receive regular payments and ensuring that happens is the core focus of my Cabinet.”
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
RoboCop%3A%20Rogue%20City
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ETeyon%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ENacon%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%205%2C%20Xbox%20Series%20X%2FS%20and%20PC%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
PAST 10 BRITISH GRAND PRIX WINNERS
2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)
Britain's travel restrictions
- A negative test 2 days before flying
- Complete passenger locator form
- Book a post-arrival PCR test
- Double-vaccinated must self-isolate
- 11 countries on red list quarantine
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Stormy seas
Weather warnings show that Storm Eunice is soon to make landfall. The videographer and I are scrambling to return to the other side of the Channel before it does. As we race to the port of Calais, I see miles of wire fencing topped with barbed wire all around it, a silent ‘Keep Out’ sign for those who, unlike us, aren’t lucky enough to have the right to move freely and safely across borders.
We set sail on a giant ferry whose length dwarfs the dinghies migrants use by nearly a 100 times. Despite the windy rain lashing at the portholes, we arrive safely in Dover; grateful but acutely aware of the miserable conditions the people we’ve left behind are in and of the privilege of choice.
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
