Iraq Secures Gas Supply Contract with Turkmenistan

Minister of Electricity, Ziad Ali Fadhil, announced the signing of a contract for the supply of Turkmen gas to Iraq, guaranteeing 10 million cubic meters in winter and 20 million in summer. The agreement includes compensation for delivery issues and is part of Iraq’s strategy to diversify energy sources and improve local production. Turkmenistan’s Minister for Gas Affairs expressed appreciation for the collaboration.

On Saturday, Minister of Electricity, Ziad Ali Fadhil, announced the signing of a significant contract to import gas from Turkmenistan to Iraq. This event took place under the auspices of Prime Minister Mohammed Shia al-Sudani, as part of the government’s initiative to diversify energy sources in Iraq. The agreement, finalized in the presence of Turkmenistan’s Minister of Energy, ensures the supply of 10 million cubic meters of gas during the winter months and 20 million cubic meters in summer. Minister Fadhil emphasized that the Ministry of Electricity aims to expedite the activation of this agreement, facilitated by the Trade Bank of Iraq. Notably, the contract includes provisions for compensation should any disruptions in gas delivery occur. Furthermore, Fadhil remarked that the contract lays the groundwork for addressing various energy-related challenges and will initiate gas supply operations, with plans to enhance local Iraqi energy production moving forward. He stated, “The contract will include a first start in supplying gas, and in the future, we will work to develop our Iraqi fields within the government program and they will be sources to enhance energy to rely on local energy.” In response, Turkmenistan’s Minister for Gas Affairs, Maksad Babayev, expressed gratitude towards the Iraqi government for fostering energy collaboration, stating, “We thank the Minister of Electricity and the Iraqi government for their support in developing relations regarding energy, participation and supplying gas to Iraq.”

The recent contract between Iraq and Turkmenistan marks a strategic move in Iraq’s efforts to diversify its energy resources and enhance its gas supply infrastructure. Given Iraq’s reliance on energy imports, this agreement addresses the growing demand for natural gas, particularly during peak consumption periods. The collaboration also underscores Iraq’s ongoing initiatives to improve its energy sector, which includes seeking partnerships with neighboring countries to stabilize and expand its energy resources. Observers note that the contract serves as a milestone in promoting regional energy cooperation and enhancing energy security for Iraq.

In summary, the signing of the gas supply contract between Iraq and Turkmenistan represents a significant step toward energy diversification and stability for Iraq. With commitments to supply substantial volumes of gas throughout the year and provisions for addressing potential supply disruptions, this agreement is poised to strengthen Iraq’s energy infrastructure while laying the groundwork for future development of local energy sources. The collaboration further emphasizes the importance of international partnerships in addressing energy challenges in the region.

Original Source: ina.iq