Kuwait is ready to import gas from Iraq, Kuwait will be importing up to 200 million cubic feet of gas daily from neighbouring country Iraq, oil ministers from the two Arab nations said after talks on Wednesday.

Cited by Kuwait News Agency , Iraqi Oil Minister Jabbar Al Luaibi said the project “will see the light very soon”.

Kuwaiti Oil Minister Essam Al Marzouk said the quantities have been decide and the start date will be determined after the committees fix the prices and shipping methods.

Marzouk said an initial 50 million cubic feet of gas daily will rise gradually to 200 million cubic feet a day.

OPEC member of Kuwait is very rich in crude oil but also poor in gas resources, and has imported gas for years during the summer months to meet demand.

Kuwaiti Oil Minister Essam Al Marzouk said the quantities have been agreed and the start date will be determined soon

Al Luaibi said they also discussed production from border oilfields and agreed to form a committee and appoint a consultant.

The Iraqi minister said without extending that the Iraq and Kuwait do not have any differences.

Both the countries had agreed in August 2010 “in principle” on a deal to regulate production from the frontier oilfields that once caused conflict between them.

But that agreement, which called for a unified international company to drill for oil on the border, was not completely finalized.

Former Iraqi leader Saddam Hussain ordered his troops to invaded and occupy Kuwait in 1990 following claims over the border oilfields.

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A number of oilfields lie on the border, including Iraq’s giant Rumaila oil field which extends into Kuwait where it is known as Ritqa.

_Amandeep