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Iraq sings a contract with Iran to import gas for 5 years

Baghdad ( The Iraqi Ministry of Energy declared on Wednesday that a new 5-12 months gas import agreement had been signed with Iran, indicating that the quantity of gas imports would achieve 50 million cubic meters for every working day.

The Iraqi Ministry of Energy mentioned in a assertion that the amount will range according to the prerequisites of the nationwide grid, the Iraqi News Agency (INA) noted.

The assertion elaborated that the action aims to hold pace with the rising demand for electricity until finally the nationwide fuel fields are rehabilitated.

In trade for gasoline imports to Iraq to run electrical electrical power vegetation, the US administration agreed before in March to grant Baghdad new exemptions to spend Iran’s economic obligations.

Iran began exporting gasoline to Iraq in 2017, and according to the deal concluded amongst the two sides, Iran provides Iraq with an average of 25 million cubic meters of gas for each working day.

Through the previous several years, because of to the serious gasoline scarcity in the wintertime, Iran reduced its gasoline exports to Iraq, and in some weeks it absolutely stopped the flow of Iranian gasoline, leading to an electrical power crisis in Iraq.

About a 3rd of Iraq’s electric power is created by thermal energy crops, which run on fuel imported from Iran.