Iraq ship energy storage

Can Iraq import energy from Iran?

Under the US sanctions waiver, Iraq has been able to import around 40 percent of its energy needs from Iran – around 10 gigawatts – although the quantity has fallen below 2 GW in recent months. However, the Trump administration refused to renew the waiver last Sunday as part of a “maximum pressure” campaign against Tehran.

How much gas will Iraq produce by 2028?

Another $27 billion project with French major TotalEnergies signed in 2023 aims to add nearly 600 million cfpd of gas to Iraq’s national production by 2028. US energy technology company Baker Hughes is also working on the development of Nasiriyah and Gharraf fields, set for completion by mid-2026.

Will Iraq redevelop oil & gas fields?

Last month, Baghdad signed an agreement with UK oil company BP to redevelop four oil and gas fields in the northern Kirkuk region and curb gas flaring. Another $27 billion project with French major TotalEnergies signed in 2023 aims to add nearly 600 million cfpd of gas to Iraq’s national production by 2028.

Does Iraq need oil & gas?

Iraq, the second-largest Opec producer after Saudi Arabia, needs oil and gas to operate its power facilities, but it struggles to generate enough electricity as a result of inefficiencies in production and transmission.

How long does it take to build a LNG terminal in Iraq?

Building such a facility is costly and takes in general between two to five years. The LNG terminal is scheduled to be operational in 2026. In the meantime, Shaddad, quoted by the official Iraqi news agency on Sunday, said a portable offshore terminal would receive gas from a Gulf country to make up for the loss of Iranian supplies.

Why did Iran stop exporting gas to Iraq in December?

Iranian gas exports to Iraq of 50 million cubic metres per day came to a standstill in early December because of high domestic demand, caused by a surge in power consumption in the cold season. Iraq plans to build another offshore LNG terminal in Khor Al-Zubair to decrease dependence on gas from Iran.