Iraq to sign gas deal with Qatar after Iranian supply shortages

Baghdad: The Iraqi government has announced its intention to sign an agreement in May to import liquefied natural gas from Qatar. This move is a part of its preparations to improve the energy supply in the summer, local media reported.

In 2021 summer, Iraq faced a major crisis in the provision of electric power, due to its Iranian aide’s failure to export the quantities of gas contracted with Iraq, to ​​operate its electrical stations, which caused a wave of demonstrations and anger in a number of provinces.

The Iraqi Electricity Minister Adel Karim said, “purchasing Qatari liquefied natural gas will help replace some of the gas that is currently being transported from Iran,” according to Bloomberg.

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Kareem further adds, “Prices are high but we have no options. We need energy, we need the Qatari gas to fill in the shortage in the Iranian gas supplies.”

Global gas prices are witnessing sharp fluctuations since the war in Ukraine sparked concern in Iraq.

Iraq ranks second after Saudi Arabia in oil production among members of the Organization of the Petroleum Exporting Countries (OPEC), may be able to secure supplies to buyers of crude oil worldwide, but at the same time, it needs to import gas to keep its lights lit.

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