Iraq Exports Gas Condensate for The First Time

Iraq exported its first cargo of natural gas condensates on Sunday.

According to news agency Reuters, a tanker carrying the condensate, produced by the Basrah Gas Company (BGC), left the southern port of Khor al-Zubair on Sunday, heading to Fujairah, in the United Arab Emirates.

The 10,000 cubic metre cargo marks the first foreign sale of a gas product by the nation, oil ministry spokesman Asim Jihad told the news agency.

BGC, which was set up to capture associated gas, is a joint venture comprising of government of Iraq (South Gas Company 51 per cent), Royal Dutch Shell (44 per cent) and Mitsubishi (5 per cent).

Iraq has estimated natural gas reserves of 112 trillion cubic feet.