Iraq encourages energy storage facilities

What is Iraq's energy supply?

Iraq is one of the world largest oil producers, and its energy sector has traditionally been dominated by oil and natural gas (see Fig. 1) [12, 13]. Fig. 1. Energy supply by source for 2000 to 2021 for Iraq [12, 13]. Iraqi energy consumption witnessed fluctuations and a gradual increase from 2010 to 2021, as depicted in Fig. 2.

What is Iraq's energy supply in 2022?

As of 2022, Iraqi energy supply is over 90 % reliant on hydrocarbons, which also account for 95 % of the country foreign exchange earnings. The global energy landscape is rapidly shifting towards cleaner alternatives, and the volatility of oil prices has made it imperative for the country to diversify its energy sources.

Does Iraq have a good power sector?

As a major producer, Iraq’s electricity sector is almost entirely dependent on fossil fuels, which account for more than 80% of power generation. Despite its vast energy resources, the performance of the country’s power sector is sub-optimal.

Does Iraq rely on external sources for electricity?

While there were minor fluctuations in subsequent years, the net import continued to rise, surpassing 20 TWh in 2020 and reaching 21 TWh in 2021. This suggests an increasing dependence on external sources for electricity to meet Iraq energy demand during this period. Fig. 5. Net electrical energy import for the years 2000–2021 [17, 18].

How does Iraq's power sector perform?

Despite its vast energy resources, the performance of the country’s power sector is sub-optimal. Iraq’s power sector suffers from a double whammy: unsustainable growth in power demand, coupled with under-investment and a lack of reforms in generation, transmission, and distribution. The result is a growing mismatch between power supply and demand.

What is the future of electricity supply in Iraq?

The future of electricity supply in Iraq can be achieved through several pathways, but the most affordable, reliable, and sustainable approach involves reducing network losses by at least half, strengthening regional interconnections, utilizing captured gas in efficient power plants, and increasing the share of renewables in the energy mix.