Economy News – Baghdad
On Sunday, Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein met with Turkey’s Minister of Energy and Natural Resources, Alp Arslan Bayrakdar, to explore the potential for gas imports from Turkey aimed at meeting the power generation requirements in Iraq. Their discussions also focused on enhancing collaboration within the energy sector.
The Ministry of Foreign Affairs reported that this meeting, held at the ministry’s headquarters, covered various topics related to electricity, natural gas, and oil. The primary objective was to advance the existing cooperation in the energy sector, reflecting the strong bilateral ties between Iraq and Turkey while addressing the needs of both nations.
Discussions included encouraging Turkish companies to invest in Iraq’s oil and gas sectors by providing necessary facilities. The parties also considered the possibility of supplying electric energy from Turkey to alleviate shortages during peak demand seasons. They underscored the urgency of completing the electrical interconnection project by establishing necessary technical steps without delay.
As a result of their discussions, both sides agreed to double the volume of electricity that Turkey will supply to Iraq, which would significantly support the needs of the Kurdistan region and the city of Mosul.
Additionally, the parties addressed the renewal of the Jihan oil pipeline contract, emphasizing the potential for extending it southward to enhance the capabilities of Iraqi oil exports to European markets. The ongoing discussions also reaffirmed the mutual interest in importing gas from Turkey to fulfill the energy requirements of Iraqi power plants and further strengthen cooperation in this domain.
In conclusion, both parties acknowledged the importance of sustained coordination and joint oversight on issues of mutual concern.
