Page 6 - MEOG Week 41 2022
P. 6
MEOG PIPELINES & TRANSPORT MEOG
Iran resumes gas
exports to Turkey
IRAN IRAN has resumed gas exports to neighbouring Tehran had enough gas matched with distribu-
Turkey after completing pipeline repairs, accord- tion capability to maintain its exports. Others
ing to the National Iranian Gas Co. (NIGC), as asked if Ankara was struggling to pay its gas debt
reported on October 10 by Shana, the official to Iran given its depleted FX reserves.
energy news service of the Iranian petroleum Even though Iran has the second-largest gas
ministry. reserves in the world after Russia, it has a rela-
NIGC official Mohammad Reza Jolaei said tively low production rate.
Iran’s gas exports to Turkey were halted for eight Iran last year supplied around 16% of Turkey’s
days from October 2 to enable the repairs. gas. Russia is the biggest supplier of gas to Turkey,
In January, Turkey’s state-run monopolistic followed by Azerbaijan.
pipeline operator Botas introduced rolling gas Turkey imports gas from Iran under an agree-
cuts to industry citing reduced Iranian gas flows. ment signed in 1996 for up to 10bn cubic metres
Iran explained the restricted flows by point- (bcm) year until July 2026.
ing to required maintenance on energy infra- It commenced in 2001 and was later reduced
structure, but analysts questioned whether to 9.6 bcm per year.
POLICY & SECURITY
Iraq will cut refinery runs to
comply with OPEC+ quotas
IRAQ IRAQ has decided to carve out a path toward The OPEC representative was speaking sev-
compliance with OPEC+ production targets eral days after the OPEC+ group unveiled its
through the downstream sector rather than new production targets for November. The new
the upstream sector in November, according schedule sets Iraq’s quota at 4.43mn barrels per
to Mohammad Saadoun Mohsen, the country’s day of oil next month, down from 4.65mn bpd in
OPEC representative. October and 4.66mn bpd in September.
Mohsen revealed details of the country’s plan Questions about the mode of Iraq’s compli-
to Argus Media on October 11, explaining that ance with the November production cuts have
Iraq would reduce domestic refinery throughput arisen since the country fell short of its target in
rather than cut production in order to comply September. The full extent of the shortfall is not
with its OPEC+ quota for the month of Novem- clear; Argus Media said it had estimated the gap
ber. He indicated that Baghdad had already at about 110,000 bpd, but Iraq’s government-run
made plans to head off potential fuel shortages, oil marketing agency has put forward a much
saying that the country would import refined smaller number of 1,000 bpd. Either way, Bagh-
fuels if necessary to meet local demand. dad will still have to make additional reductions
“To bring down our production to match our to remain in compliance in November.
quota in November, we will reduce our refinery Mohsen did not say exactly how next month’s
runs internally,” he said to Argus Media. “And if throughput cuts would be allocated among Iraq’s
we need to match domestic [petroleum product] 12 working refineries, which have a combined
needs, especially for gasoline or gasoil, we will design capacity of about 1mn bpd. The country
be increasing our import level of such products.” is slated to bring one more oil-processing plant,
He added: “Our plan is to keep our crude the 140,000 bpd Karbala refinery, online before
export levels as is.” the end of this year.
P6 www. NEWSBASE .com Week 41 12•October•2022
