Iraq is ready to annually purchase about 10 billion cubic meters of gas from Turkmenistan
14:40 09.10.2023 5050
A memorandum of understanding on natural gas supplies was signed between the State Concern “Turkmengas” and the Ministry of Electricity of the Republic of Iraq.
The document was signed following the results of negotiations held during the visit to Baghdad of a delegation of Turkmenistan led by the State Minister - Chairman of the State Concern "Turkmengas" Maksat Babayev from October 5 to 8.
During the visit, representatives of Turkmenistan were received by the Prime Minister of Iraq Mohammed Shia al-Sudani. The head of the Iraqi government noted the readiness and desire of his country to develop comprehensive and mutually beneficial relations with Turkmenistan, where the energy component will become one of the main areas of bilateral partnership.
The Prime Minister emphasized that, despite the rich hydrocarbon resources, the growing needs of the national economy and the Iraqi population for gas and electricity necessitate an increase in the volume of gas imports to Iraq.
Welcoming the agreements reached between the state energy structures of the two countries, Mohammed Shia al-Sudani expressed confidence in the early start of their practical implementation.
The head of the government of Iraq conveyed words of greetings and respect to the National Leader of the Turkmen people, the Chairman of the Halk Maslahaty of Turkmenistan and the President of Turkmenistan.
The readiness of the President of Iraq to visit Turkmenistan on an official visit in the near future was also noted.
The Turkmen delegation held detailed negotiations with the Minister of Electricity Ziad Ali Fadel, during which a range of issues related to the organization of supplies of Turkmen natural gas to Iraq were discussed constructively.
In particular, Iraqi partners expressed interest in gas supplies from Turkmenistan to Iraq under the SWAP scheme through the territory of neighboring Iran. At the same time, the Iraqi side will be ready to purchase Turkmen natural gas in the amount of about 10 billion cubic meters per year.
The parties also discussed in detail the legal, commercial, financial, and organizational conditions for future joint activities in the gas industry.
As a result of the negotiations, a Memorandum of Understanding was signed between the State Concern “Turkmengas” and the Ministry of Electricity of Iraq.
The parties agreed to continue negotiations in Ashgabat within the framework of the International Exhibition and Conference “Oil and Gas of Turkmenistan – 2023”, which will be held on October 27.
Turkmenistan is progressively expanding the geography of its international energy cooperation. Among the existing energy pipelines are the gas pipelines Turkmenistan – Uzbekistan – Kazakhstan – China, Turkmenistan-Iran, Turkmenistan-Europe (the former name of the SAC). Currently, construction of the Turkmenistan-Afghanistan-Pakistan-India pipeline is underway. In the future, it is planned to build a Trans-Caspian gas pipeline to supply “blue fuel” to the European market. The states of the Far, Middle and Near East, South and Southeast Asia are also showing great interest in establishing cooperation with Turkmenistan in the energy sector.
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