Iraq FSRU Plans: Excelerate’s Chances Strengthen

11 Jul 2025 Issue: 68 / 28 By: Yesar Al-Maleki

Iraq’s plans to secure an FSRU for this summer appear to have fallen short. Breeze Investment’s ability is increasingly in question, with its first two proposed vessels unavailable. This leaves Iraq with US firm Excelerate, which can provide an FSRU in time for summer 2026.

Iraq’s ministry of oil has launched a rushed process to assess offers to lease a Floating Storage and Regasification Unit (FSRU). Deputy oil minister for gas affairs, Izzat Sabir, told MEES on the sidelines of this week’s Opec Seminar that his country aims to “reach an agreement within ten days.” Iraq’s cabinet on 8 July reaffirmed its commitment to signing a contract.

This comes after offers were received from a handful of companies in late-June, after Iraq opened up the process beyond its favored-provider; the Iraqi-owned, UAE-registered Breeze Investments (MEES, 6 June). Breeze has been the preferred option for Baghdad despite its offer being more expensive than that from US LNG-specialist firm Excelerate Energy. (CONTINUED - 1314 WORDS)