Tags

Iraq exploring floating gas terminals to meet power demand

Iraq is in talks with several companies to secure two floating storage regasification units by early June, as OPEC’s second-biggest producer tries to address power shortages caused by a U.S. move against Iran.

The U.S. decided earlier in March not to renew a waiver that allowed Iraq to buy electricity from Iran, with Donald Trump’s administration pressuring Tehran into negotiating a new nuclear deal. The decision has left the Iraqi government in need of more gas to meet its growing demand for electricity.

Iraq Seeks Floating Gas Terminals to Bridge Power Gap

Iraq is in talks with several companies to secure two floating storage regasification units by early June, as OPEC’s second-biggest producer tries to address power shortages caused by a US move against Iran.

The US decided earlier in March not to renew a waiver that allowed Iraq to buy electricity from Iran, with Donald Trump’s administration pressuring Tehran into negotiating a new nuclear deal. The decision has left the Iraqi government in need of more gas to meet its growing demand for electricity.