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Iraq Seals USD1B Deal with U.S. Energy Company for Gas Supply Boost
(MENAFN) Iraq sealed a pivotal agreement with U.S. energy company Excelerate Energy on Tuesday to deploy a floating storage and regasification unit (FSRU), a move aimed at strengthening the nation’s energy security and electricity generation capacity.
Ahead of the signing, Iraqi Prime Minister Mohammed Shia' al-Sudani met with U.S. Deputy Secretary of Energy James Patrick Danly, underscoring the government’s long-term energy ambitions. According to a statement from al-Sudani’s media office, he stressed, “the government is committed to achieving gas self-sufficiency by 2028.”
The statement highlighted the advantages of the floating platform, noting it “offers a flexible, cost-effective alternative to fixed infrastructure.”
During the meeting, al-Sudani also remarked that Iraq has already reached self-sufficiency in producing high-octane gasoline, while pointing to full gas independence as a central objective.
Under the terms of the five-year renewable contract, the FSRU will deliver up to 15 million cubic meters of natural gas per day, supplying power plants and stabilizing electricity output, the statement added.
Ahead of the signing, Iraqi Prime Minister Mohammed Shia' al-Sudani met with U.S. Deputy Secretary of Energy James Patrick Danly, underscoring the government’s long-term energy ambitions. According to a statement from al-Sudani’s media office, he stressed, “the government is committed to achieving gas self-sufficiency by 2028.”
The statement highlighted the advantages of the floating platform, noting it “offers a flexible, cost-effective alternative to fixed infrastructure.”
During the meeting, al-Sudani also remarked that Iraq has already reached self-sufficiency in producing high-octane gasoline, while pointing to full gas independence as a central objective.
Under the terms of the five-year renewable contract, the FSRU will deliver up to 15 million cubic meters of natural gas per day, supplying power plants and stabilizing electricity output, the statement added.
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