Iraq’s Minister of Electricity, Ziad Ali Fadhil, announced a contract with Turkmenistan for gas supply, ensuring access to 10 million cubic meters in winter and 20 million in summer. The agreement includes important compensation clauses for supply disruptions and a commitment to develop local energy resources, indicating a strategic move towards energy diversification.
On Saturday, the Minister of Electricity, Ziad Ali Fadhil, announced the signing of a significant contract for the supply of Turkmen gas to Iraq. This event took place under the auspices of Prime Minister Mohammed Shia al-Sudani, as part of Iraq’s governmental initiative aimed at diversifying its energy sources. In attendance was the Minister of Energy from Turkmenistan, highlighting the collaborative effort. According to Minister Fadhil, the contract stipulates a supply of 10 million cubic meters of gas during the winter months and 20 million cubic meters in the summer. He emphasized the urgency for the Ministry of Electricity to swiftly implement this agreement, facilitated through the Trade Bank of Iraq. Notably, the contract includes a provision ensuring that, should there be any disruption in gas supply, equivalent quantities will be compensated. Importantly, this agreement addresses several pressing issues, including the initial gas supply and the future development of local Iraqi gas fields to enhance domestic energy production, which aligns with the government’s broader energy diversification goals. The Minister affirmed that this initiative aims to ensure stability in energy availability, particularly in summer when consumption peaks, thus allowing for enhanced operational capacity of electricity generation units. Echoing Minister Fadhil’s sentiments, Maksad Babayev, the Turkmen State Minister for Gas Affairs, expressed gratitude towards the Iraqi government for its support in fostering strong energy ties and facilitating gas supply. He articulated optimism about the outcomes of this partnership, noting the mutual benefits that are expected to arise from this agreement.
The recent contract for Turkmen gas supply to Iraq reflects Iraq’s strategic initiative to bolster its energy sector by diversifying its fuel sources. The importance of natural gas, as a pivotal component of Iraq’s energy infrastructure, cannot be overstated given the country’s increasing energy demands, particularly during peak consumption periods. The agreement also signifies a strengthening of ties between Iraq and Turkmenistan, which may have broader implications for regional energy cooperation and development. Iraq has been actively seeking to enhance its energy capabilities while also focusing on the development of its domestic gas resources as outlined in its policy agenda.
In conclusion, the signing of the Turkmen gas supply contract marks a significant step for Iraq in achieving energy stability and diversification. The collaborative effort between Iraq and Turkmenistan illustrates a commitment to addressing energy shortages and enhancing overall production capacity. As both nations work together within this framework, the expected outcomes may significantly impact Iraq’s energy landscape positively, ultimately benefiting its economy and the welfare of its citizens.
Original Source: ina.iq
