24 Aug 2023 17:43

Iraq agrees with Turkmenistan on gas imports, supply agreement expected by end of 2023

MOSCOW. Aug 24 (Interfax) - Iraqi authorities have reached an agreement with their Turkmen colleagues on importing a significant volume of natural gas, Iraq's Ministry of Oil said in a statement.

The parties signed a memorandum of cooperation following the meeting in Turkmenistan, and an agreement on supplies is expected to be signed by the end of the year.

The statement does not indicate the potential volume of gas that Iraq intends to import from Turkmenistan, though the authorities did say that they expect "large quantities" to be supplied.

As emphasized, Iraq requires Turkmen gas in order to meet some of its needs to supply fuel to power plants.

According to the UK's Energy Institute, Iraq produced 9.4 billion cubic meters of natural gas last year, while it consumes 18.9 bcm domestically.