BAKU, Azerbaijan, November 18. It is expected that the contract on Iran's gas export to Iraq will be extended until the end of this year (2023) in order to provide fuel for the power plants of the Iraqi capital, Baghdad, said Majid Chegeni, Iranian Deputy Oil Minister and CEO of the National Iranian Gas Company (NIGC), Trend reports.
“On November 15, 2023, Iran's Oil Minister Javad Owji and Iraq's Minister of Electricity Ziad Ali Fazel held a meeting to discuss the extension of the mentioned contract. It was agreed that the relevant working groups of the two countries should work on the extension of the gas export contract,” he said.
The deputy minister added that major part of the fuel needed by Iraq's power plants is provided by Iran.
"Iran's gas export contract to Iraq is about to expire. The Iraqi side is very interested in extending the term of this agreement," he said.
Chegeni also noted that Iran and Iraq have interesting proposals for each other, and these proposals will be discussed at the meetings of the working groups of the two parties.
The contract on Iran's gas export to Iraq was signed in 2013. Reportedly, Iran's gas export is 38 million cubic meters per day on average.
On average, Iran currently produces about 259 billion cubic meters of gas annually and more than 800 million cubic meters daily.
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