Iraq, Turkmenistan forge gas deal to boost energy diversification

Iraq, Turkmenistan forge gas deal to boost energy diversification

On Saturday, Iraqi Prime Minister Mohammed Shiaa Al-Sudani signed a memorandum of understanding to import gas from Turkmenistan.

The Iraqi government’s vision to ensure its energy future was marked by the signing ceremony during a meeting with Turkmenistan’s Minister of State for Gas Affairs, Maksad Babayev, and his delegation.

Al-Sudani’s office released a statement stating that the discussions between the two nations focused on bilateral relations and explored opportunities for growth, particularly in the energy and gas sectors. The talks concluded with the signing of a joint memorandum of understanding, paving the way for the importation of Turkmen gas to fulfill Iraq’s production facilities and electrical grid requirements.

Prime Minister Al-Sudani has emphasized the Iraqi government’s commitment to the energy sector, which is considered a cornerstone for economic development. The government acknowledges the paramount importance of this sector and is actively working towards its diversification. Key sectors of the economy are also being prioritized to enhance their vitality.

Although Iraq has substantial natural gas resources, effectively harnessing the country’s gas wealth requires strategic investment and time, according to Al-Sudani.

The government’s decision to import Turkmen gas aligns with its strategy to diversify gas imports for a continuous power supply to the nation’s electricity generation plants.

Babayev conveyed the warm regards of Turkmenistan’s President to Prime Minister Al-Sudani and expressed his nation’s keen interest in strengthening cooperation across various areas. He stated that this collaborative effort is aimed at advancing the bilateral relationship between Iraq and Turkmenistan while also serving the best interests of their respective populations.