LOC23:24
20:24 GMT
BAGHDAD, Oct 28 (KUNA) -- The Iraqi Ministry of Electricity has signed a contract with Texas-based Excelerate Energy to establish a floating storage regasification unit (FSRU) as part of Iraq's efforts to secure alternative sources for supplying natural gas to power plants.
The signing ceremony was held today under the patronage of Iraqi Prime Minister Mohammad Al-Sudani, and attended by US Deputy Secretary of Energy James Danly.
A premiership office statement said the platform will have a daily capacity of 15 million cubic meters of gas for a period of five years, with the possibility of extension, to supply natural gas to Iraq's electricity generation plants.
The statement highlighted that the floating platform is a flexible solution in terms of implementation and infrastructure requirements. It offers a quicker, more cost-effective alternative compared to traditional fixed platforms. The statement also noted that both al-Sudani and Danly discussed the importance of a fruitful partnership and cooperation between Iraq and the United States in various fields, particularly energy, and reviewed ongoing projects in Iraq, especially in the energy sector, and their impact on reinforcing political, economic, and social stability.
Prime Minister Al-Sudani confirmed that the Iraqi government has set a specific timeline to achieve its energy goals and utilize gas resources. He noted that Iraq is working towards self-sufficiency in high-octane gasoline production, with efforts continuing to achieve this through government projects, targeting 2028 to reach the goal.
For his part, Danly emphasized the significant progress in cooperation between the two countries, especially in energy projects. (end)
ahh.ara