Iraq is facing acute gas shortages this year, as a significant reduction in Iranian inflows in late-May has removed a key plank of its supply strategy. This leaves it reliant on its insufficient domestic gas feedstock, topped up with oil burn in order to keep power plants operational.
Improving power provision is a key priority for the government, with the oil ministry tasked with boosting gas supply. Sitting down with MEES in London a day after speaking at the Iraq Britain Business Council’s Spring Conference on 3 June, Oil Minister Hayan Abdulghani expressed confidence that Iraq will be able to lease an FSRU for LNG imports this summer. “We are in advanced negotiations with BI [Breeze Investment] and Adnoc” he says, adding that a contract will be signed “in 2-3 weeks with an FSRU brought to Khor al-Zubair port.” The vessel will supply “750mn cfd at peak with a minimum of 350mn cfd,” he explains. (CONTINUED - 1145 WORDS)
