Iraq’s Ministry of Electricity announced on Wednesday that it has signed a contract with an Iranian company to procure gas for a period of five years.

The ministry said in a statement published by Iraqi News Agency (INA) that " the Minister of Electricity Ziyad Ali Fadel signed a gas supply contract with the Iranian National Gas Company for a period of five years, at pumping rates of up to 50 million cubic metres per day." 

It added that "this quantity will vary according to the system's needs," indicating that "this aims to sustain the momentum of power production stations, and to cope with peak loads and the increasing demand for electrical energy, until the rehabilitation of national gas fields is completed and the electricity needs are met."

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.