Energy Other
Iraq signs agreement for floating natural gas platform with Excelerate Energy
Iraq has signed an agreement for a floating natural gas platform with U.S.-based Excelerate Energy, the prime minister's office said in a statement on Tuesday, as Baghdad seeks to attract more American investment into its energy sector.
Under the deal, Excelerate Energy will provide Iraq with its first floating storage regasification unit, capable of receiving, storing and regasifying liquefied natural gas, two Iraqi energy officials with knowledge of the agreement said.
The LNG terminal will be based at the port of Khor al-Zubair on the Gulf, with gas piped for integration into Iraq’s power grid, said the officials.
Iraq is under pressure from Washington to diversify its energy sources and limit energy ties with Iran, from where gas exports to Iraq have been repeatedly disrupted due to U.S. sanctions and payment disputes.
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