Economy Update – Baghdad
The Parliamentary Oil and Gas Committee has announced that the Iraqi government is pivoting towards importing gas from the Gulf instead of relying on Iranian sources, following the implementation of recent US sanctions. This initiative is advancing rapidly with a project currently underway in Basra, located in the southern region of the country.
Committee spokesman Ali Shaddad stated, “The challenge faced by the Ministry of Electricity is that it has established power stations across Iraq that are exclusively dependent on gas. In contrast, the stations in Basra operate on a combination of gas, crude oil, and black oil, which has helped stabilize the electrical system in the province.”
Shaddad further elaborated, “The Prime Minister is personally overseeing the expedited completion of the gas transportation pipeline project from the floating platform in Basra.” He noted that “the Ministry of Oil has been actively engaged in this endeavor for nearly a month and aims to achieve rapid progress within a timeframe of 120 days.”
According to Shaddad, “The project has already surpassed a completion rate of 30%,” and he emphasized that “it is expected to facilitate the transportation of Gulf gas in quantities reaching up to 200 million cubic feet.”
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