⚡ EXCELERATE ENERGY CEO: “OUR AGREEMENT PUTS IRAQ ON THE GLOBAL GAS MARKET MAP FOR THE FIRST TIME” 🌍🔥
✨ Highlights:
🇺🇸 Excelerate Energy (U.S.) has officially partnered with the Iraqi government to develop Iraq’s first LNG floating terminal at Khor al-Zubair Port, Basra.
💰 Investment: $450 million — a huge step forward for Iraq’s energy diversification.
🏛️ The signing took place in Prime Minister Mohammed Shia al-Sudani’s office, attended by top U.S. and Iraqi officials, including CEO Stephen Kobus and U.S. Deputy Secretary of Energy James Danley.
💬 Kobus: “This represents a long-term commitment to Iraq’s energy future and regional stability.”
🚢 The project includes:
A floating regasification and storage vessel (Hull 3407) , one of the largest in the world,
Capacity up to 1 billion cubic feet per day,
A five-year gas supply & regasification contract (starting at 250 million cubic feet/day, expandable to 500 million).
🗓️ Commercial operations are planned to begin in 2026, after construction and permits are complete.
🔋 The project will reduce Iraq’s reliance on imported pipeline gas and boost national energy security.
🇮🇶 This partnership marks Iraq’s entry into the global gas market, attracting more American investment into its energy infrastructure.
🚀 Bottom line:
This agreement is more than just an energy deal — it’s a strategic milestone linking Iraq to global markets and strengthening ties with the U.S. 💪🇮🇶🇺🇸
👇 Stay updated with more breaking Iraq economy & energy news:
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