Iraq Signs $17 Billion Gas Agreement With Shell, Mitsubishi

Iraq, seeking to boost power output after years of conflict and sanctions, completed the final accord for a $17 billion project with Royal Dutch Shell Plc and Mitsubishi Corp. to capture natural gas from its oil fields.

Shell Chief Executive Officer Peter Voser, Mitsubishi Senior Vice President Tetsuro Kuwabara and Iraqi Oil Minister Abdul Kareem Al-Luaibi signed the agreement to save and produce gas that is currently flared off in southern Iraq.