Iraq, Turkmenistan sign gas agreement
The Service of Power in Iraq said on Saturday that it consented to an arrangement with Turkmenistan to supply up to 20 million cubic meters of gas each day to Iraq.
In a statement, the Iraqi ministry said that a Swiss company will use a swap mechanism to get gas from Turkmenistan to Iraq through the Iranian pipeline network.
According to Ziyad Ali Fadel, the Iraqi Minister of Electricity, the agreement will assist in ensuring that gas-fired power plants in Iraq receive the required fuel.
Fadel claims that gas-fired power plants in Iraq generate approximately 60% of the nation’s electricity.
Due to a lack of fuel for power plants, Iraq has a shortage of electricity, forcing the government to diversify its energy sources, increase gas imports, and invest in local gas production projects to reduce its reliance on Iranian suppliers.
The representative for the Oil, Gas, and Normal Assets Parliamentary Board of trustees, Ali Shaddad, uncovered last week that the Iraqi Power Service will before long go into a concurrence with Kazakhstan to supply Iraq with up to 20 million cubic meters of gas.
According to the Ministry of Electricity, Iraq and Turkmenistan signed a memorandum of understanding last year to import the gas it needs to run its power plants. The Ministry of Electricity said that this step requires additional negotiations about how gas is transported through Iran.
One third of Iraq’s energy requirements are met by gas imports from Iran, which are used by power plants. Within a period of five years, the agreement will enable Turkmen gas to be delivered via Iran to Iraq.
According to reports, all of the steps required for Iraq to begin importing gas from Turkmenistan in January 2024 were completed.
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