Iraqi nat gas future bright, though uncertain

Iraqi officials and IOC execs meet in Istanbul, altering plans for the upcoming auction of three fields, amid rumors of a gas deal with Iran.
Iraqi nat gas future bright, though uncertain
An Iraqi vendor sells gas cylinders in Baghdad on May 6, 2010. Iraq postponed until Oct. 1 an auction of three of its gas fields, in the war-torn country's third major attempt to develop its oil and gas sector. (ALI AL-SAADI/AFP/Getty Images)

Iraq has delayed for at least a month an auction of three natural gas fields which could see foreign companies develop enough of the resource to meet local demands and create a new export sector.But terms have yet to be solidified for the contracts to be offered on Oct. 1, the oil ministry said.And the value of the contracts will be affected by the terms of another gas deal: the state-run South Gas Company's joint venture with Royal Dutch Shell to capture flared gas in Basra province th...

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