Many of the worlds biggest energy companies may have to surrender most of the gas from Iraqs vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europes biggest company, obtained by Reuters, shows.

Egypt will sign a deal to resume gas exports to Jordan next month despite attacks by armed groups on the gas pipeline in Egypts Sinai region, Egyptian state news agency Mena cited Jordan Energy Minister Khaled Toukan as saying.

Qatar Petroleum and Exxon Mobil are expecting proposals by the end of August from international, regional and local banks on a US$4.7 billion syndicated loan, backing the Barzan gas project.

Iraqs proposed gas deal with Shell to capture and exploit associated gas from its giant southern oil fields is expected to produce two billion cubic and will cost US$17.2 billion.