Iraq + Turkmenistan ink gas supply agreement: Iraq’s Electricity Ministry has inked an agreement with Turkmenistan to import up to 20 mn cubic meters of gas per day to supply Iraq’s power stations, according to a statement released on Saturday. The financial details of the agreements have not been disclosed.

The details: Turkmenistan is set to supply Iraq with 20 mn cubic meters of gas annually during summer season and 10 mn cubic meters during winter, Electricity Minister Ziad Fadil told INA. The gas from Turkmenistan will be imported to Iraq through Iranian pipeline networks using the SWAP mechanism in cooperation with Switzerland-based Loxstone Energy. The imported gas is set to provide 3k MW to Iraq.

We’ve been expecting this: Iraq inked an agreement with Turkmenistan national gas company Türkmengaz earlier this month to implement a prepayment system for importing gas via Iran. Supplier Loxstone Energy will facilitate the transaction through a swap mechanism under a contract with the Iraqi government, which will be exempt from standard public contract procedures and federal budget regulations for the next three years.

This has been a long time coming: Iraq inked an agreement with Turkmenistan last year to supply gas to meet the needs of production and electrical stations. This followed meetings between Iraqi ministries and representatives from Turkmenistan’s gas sector back in August, where they reached a preliminary gas import agreement to fuel the electric power plants. The turn to Turkmenistan for gas supply also comes as Iraq tries to move away from Iran to a country that has no imposed sanctions or supply issues.

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