This Oil Giant Just Shipped Its First LNG Cargo

Iraq has entered the market for liquefied natural gas, with its first shipment ever taking place this week. In a statement, the Iraqi Oil Ministry said that the first shipment was an achievement and quoted the managing director of Basra Gas Company, Malcolm Mayes, as saying it was a "historic moment".

The international LNG market has heated up in the past few months as Europe, a major importer of gas, seeks to reduce and eventually eliminate its reliance on Russian pipeline gas. LNG has emerged as the most convenient replacement, and the United…