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Iraq May Lower Reliance on Iranian Gas, Electricity Next Year: Deputy Prime Minister

Dubai — Iraq could lower its reliance on Iranian gas and electricity imports next year if OPEC’s second largest oil producer can implement multi-billion deals signed with US companies and attract Saudi investments, the deputy prime minister said Aug. 21.

Iraq signed $8 billion worth of energy deals with US companies during this week’s visit of Prime Minister Mustafa al-Kadhimi to Washington, his first state visit to the US since assuming office in May. At the same time, Iraq is trying to woo Saudi investments and link its electricity grid to the Gulf grid through Saudi Arabia and Kuwait.

“I assume that the dependence on Iranian gas and electricity imports will begin to trail down significantly sometime next year, but between now and then we have little options except to continue to draw on this source,” Ali Allawi, who is also finance minister, told a webinar organized by the Atlantic Council. Read more…..

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