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Iraq gas deal faces elections delay

by Peter Ward on Sep 6, 2009

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The JV may be delayed until after elections in January

A gas venture between the Iraqi government, Royal Dutch Shell and Mitsubishi may be delayed until after national elections in January, according to a senior oil official.

“In the current climate, signing the deal and making a decision is very difficult ... essentially because there is strong opposition, used by politicians for other reasons not related to gas and investment in gas for political objectives,” Deputy Oil Minister Ahmed al-Shamaa told The Associated Press, stressing he was speaking for himself rather than the Iraqi Oil Ministry.

There have been objections to the deal in Iraq, due to fears that it would allow Shell to monopolise the area’s gas. A preliminary agreement was signed last September to gather, process and market associated natural gas in the Basra province within a year.

The deal will be a major part of plans to modernise oil and gas facilities in Iraq.

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