Turkmenistan and Iraq sign key gas deal
Iraqi Energy Minister Ziad Ali Fadel announced on Saturday that he had signed an agreement with Turkmenistan to secure daily supplies of 20 million cubic meters of gas.
In his statement, Fadel stressed that this gas influx will play a major role in improving the country’s electricity infrastructure, saying: “This volume of imported gas will contribute to the full operation of our gas-fired power plants, ensuring the stability of the national grid.”
Fadhel explained that gas from Turkmenistan will be transported to Iraq via Iran’s pipeline network under a swap mechanism in cooperation with Switzerland-based Loxstone Energy.
“The signing of this agreement is the culmination of more than a year of intensive technical efforts, which included numerous meetings, mutual visits and the signing of a memorandum of understanding last year,” the minister added, Shafaq News reported.
Maksat Babayev, Turkmenistan’s Minister of State and Chairman of the Turkmengas State Concern, arrived in Baghdad on an official visit, during which he also met with Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani.
The Iraqi News Agency (INA) reported, citing the Iraqi Oil Ministry, that the meeting included discussions on expanding the horizons of joint cooperation in the oil and energy sectors, noting that Iraq and Turkmenistan have great potential in these areas.
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