(MENAFN) The Iraqi Prime Minister's Office, in a statement released on Sunday, highlighted the plans of Total Energies CEO Patrick Pionet to complete the initial phase of two solar energy and associated gas projects by 2025. The statement further elaborated that the production target for the first phase of the gas project in southern Iraq is anticipated to reach an initial output of 50 million cubic feet per day within the coming year. Emphasizing the government's commitment to facilitating Total Energies' endeavors, the Prime Minister affirmed the provision of all necessary support for the company's success. This support is particularly crucial as the government endeavors to bolster the investment climate and enact supportive legislation, underscoring the significance of Total Energies' projects for Iraq's energy landscape.
Iraq's pursuit of natural gas production is driven by the urgent need to supply its power plants and alleviate the financial strain caused by reliance on gas imports. As a member state of the Organization of the Petroleum Exporting Countries (OPEC), Iraq currently relies heavily on gas imports from Iran to sustain its electrical grid. The agreement struck last year, valued at USD27 billion, between Iraq and Total Energies is geared towards bolstering oil production and enhancing the nation's energy production capabilities across oil, gas, and renewable energy sectors.
The collaboration with Total Energies not only aligns with Iraq's strategic objective of reducing dependency on gas imports but also holds the promise of enhancing the country's energy self-sufficiency. By diversifying its energy portfolio and leveraging renewable sources such as solar energy, Iraq aims to fortify its energy security and reduce its vulnerability to external supply disruptions. The ambitious projects underscore Iraq's determination to harness its vast energy resources for domestic development and economic prosperity, signaling a significant step towards achieving energy sovereignty and resilience in the region.
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