Foreign firms accept ministry’s terms in gas auction

BAGHDAD - Iraq’s gas field auction was never guaranteed to be a success, mired as it was in local controversies, continuing political volatility, hesitation by foreign companies, and Oil Ministry delays. On Wednesday, however, the ministry netted a perfect score, awarding all three gas fields to foreign companies - on Iraq’s terms.

Although some provincial leaders objected to the development plans for fields in their territories, national government officials said the event was a triumphant step toward developing the dormant gas sector. Iraq badly needs gas for its power plants and industrial infrastructure, which are chronically short of fuel; eventually, the country is looking to export gas via pipelines to Europe.