Iraqi Kurdistan has ambitious plans to significantly ramp up gas production and exports in the coming years – to up to 20bcm/year early next decade.
The KRG offers Turkey a potential alternative source of gas imports to current major suppliers Russia, Iran and Azerbaijan, and at a lower price. However, if it is to achieve its export ambitions, the cash-strapped KRG must convince international oil companies (IOCs) that it is willing and able to offer sufficiently attractive commercial terms to incentivize gas field development at a time when the industry is reducing upstream capex. (CONTINUED - 1499 WORDS)
