On Friday, 6 October 2023, Turkmenistan and Iraq signed a Memorandum of Understanding on the supply of natural gas to meet the needs of production stations and the electrical system, reported Iraq’s official news agency INA with reference to the Ministry of Electricity.
The document was signed in Baghdad following negotiations between the Minister of State of Turkmenistan, Chairman of the State Concern “Turkmengaz” Maksat Babayev and the Minister of Electricity Ziad Ali Fadel.
In particular, the Iraqi partners expressed interest in importing Turkmen natural gas through Iran under a swap scheme. Iraq is ready to receive up to 10 billion cubic meters of Turkmen gas annually.
On Friday Babayev also met with Deputy Prime Minister for Energy Affairs, Oil Minister Hayan Abdul Ghani.
The sides stressed the importance of cooperation in the field of gas supplies.
“The Minister of Oil, during his meeting with the Minister of State for Gas Affairs of the Republic of Turkmenistan, Maksat Babayev, confirmed that the meeting included discussing expanding the horizons of joint cooperation in the oil and energy sector, and that Iraq and Turkmenistan possess great potential in these areas”. “The government and the ministry are keen to strengthen bilateral relations and cooperation with the Republic of Turkmenistan in the field of oil and energy,” INA quotes a statement from the Iraqi Oil Ministry.
During the meeting, Abdul Ghani called the signing of the memorandum of understanding an important step to enhance cooperation opportunities, calling on Turkmen companies to participate in promising investment opportunities announced by the ministry.
“The Minister of State for Gas Affairs of the Republic of Turkmenistan, Maksat Babayev, expressed his happiness for the bilateral cooperation between the two countries, considering that the signing of the memorandum of understanding to supply gas to Iraq is the beginning towards increasing the prospects for bilateral cooperation between the two countries,” the source notes.
At the end of August this year, an Iraqi delegation headed by Deputy Minister of Energy Adil Karim Kak Ahmed and Deputy Minister of Oil Izzat Saber Esmail held talks with the State Concern “Turkmengaz” in Ashgabat.
During the meeting, technical, financial and commercial issues related to the organization of natural gas supplies from Turkmenistan via the gas pipeline of the State Concern “Turkmengaz” under the swap scheme through Iran were discussed.
Then it was reported that Iraq was interested in importing Turkmen natural gas on the basis of a long-term contract with Turkmengaz for at least 5 years. ///nCa, 6 October 2023 (Photo credit – INA)
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