Baghdad, Ashgabat Sign MoU to Develop Bilateral Trade Ties , 9 OCT
ERBIL — The federal government of Iraq has signed a memorandum of understanding with Turkmenistan to import gas supplies in an attempt to strengthen bilateral trade relations and resolve the country's chronic power shortages.
“Minister of Electricity Ziad Ali Fadel received today the Minister of State of Turkmenistan for Gas Affairs at the ministry’s headquarters, where they engaged in a round of negotiations that resulted in the signing of a memorandum of understanding to supply gas to meet the needs of power production stations and the electrical system in Iraq," Iraqi News Agency reported on Friday.
In late August, a deal was struck between the federal government and Turkmenistan's government to address the nation's rising gas demand and alleviate persistent electricity shortages by importing gas.
Iraq has been struggling with persistent electricity shortages as it relied on Iranian gas supplies for power generation. However, due to US sanctions on Tehran, Baghdad needed to seek alternative solutions to compensate for these crucial gas imports.
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