BAKU, Azerbaijan, March 5. The need to strengthen cooperation between Iran and Iraq in the energy sector—spanning oil, gas, petrochemicals, and electricity—was underscored as crucial, Trend reports via Iran’s Ministry of Oil.
According to the Ministry, Iranian Oil Minister Mohsen Paknejad held talks with Iraqi Electricity Minister Ziad Ali Fadhil in Tehran on March 5.
Throughout the convening, the longstanding affiliations between the two sovereign entities were underscored, emphasizing the prospective synergies within the energy domains of both nations.
To note, Iraq engages in the procurement of gaseous hydrocarbons from Iran to optimize the operational efficiency of select thermal energy generation facilities.
In July 2017, an agreement was signed between Iran and Iraq for the export of Iranian gas. As a result, 52 billion cubic meters of gas worth $15 billion have been exported to Iraq. This agreement was extended for five years on March 27, 2024. In accordance with the stipulations of the bilateral accord, Iran is set to facilitate the exportation of 50 million cubic meters of natural gas to Iraq on a daily basis.
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