Iraq Signs Agreement with Siemens to Convert 120 million Cubic Feet of Gas into Fuel for Electricity

 Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
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Iraq Signs Agreement with Siemens to Convert 120 million Cubic Feet of Gas into Fuel for Electricity

 Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)
Iraqi Electricity Minister, Ziyad Ali Fadel and Siemens Energy CEO Christian Bruch shake hands after signing the agreement in Berlin on Wednesday (INA)

Iraqi Electricity Minister Ziyad Ali Fadel signed on Wednesday an agreement with Siemens Energy in Berlin to convert flared gas into fuel for electricity.
The agreement covers about 120 million standard cubic feet of gas within a period of 6 months and an additional 120 million standard cubic feet within one year, according to the Iraqi news agency (INA).

The agreement comes as part of the Iraqi government’s efforts to stop gas flaring and to invest it effectively in generating electrical energy, the Minister’s office said in a statement.

It is also part of Iraq’s commitment to the decisions of the Paris Climate Conference in preserving the environment and providing renewable energy sources.
The statement said the agreement is characterized by rapid implementation, as it includes investing about 120 million standard cubic feet (meaqf) of gas within a short period of 6 months, and an additional 120 (meaqf) within a period of one year.
The gas produced will be used to establish an electrical station with a capacity of 2000 megawatts, to enhance Iraq’s national electricity grid.

Siemens Energy CEO Christian Bruch commended the Iraqi government for its efforts in overcoming the obstacles that the energy industry has encountered for a long time.

“Iraq has been successful in constructing several infrastructure projects in the last few years that will help develop the actual capabilities of the Iraqi energy sector,” he said, according to the Ministry statement.



World Food Price Index Eases in Dec, Pushed Lower by Sugar

A vendor arranges vegetables at a roadside market on a cold winter evening in New Delhi on January 2, 2025. (Photo by Sajjad  HUSSAIN / AFP)
A vendor arranges vegetables at a roadside market on a cold winter evening in New Delhi on January 2, 2025. (Photo by Sajjad HUSSAIN / AFP)
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World Food Price Index Eases in Dec, Pushed Lower by Sugar

A vendor arranges vegetables at a roadside market on a cold winter evening in New Delhi on January 2, 2025. (Photo by Sajjad  HUSSAIN / AFP)
A vendor arranges vegetables at a roadside market on a cold winter evening in New Delhi on January 2, 2025. (Photo by Sajjad HUSSAIN / AFP)

The United Nations' world food price index dipped in December against November levels, led lower by a drop in international sugar quotations, but still showed a robust gain year-on-year, data showed on Friday.
The index, compiled by the UN Food and Agriculture Organization (FAO) to track the most globally traded food commodities, fell to 127.0 points last month from a slightly revised 127.6 in November.
The November figure was previously put at 127.5, Reuters reported.
The December value was up 6.7% from 12 months previously, yet remained 20.7% below the all-time high reached in March 2022, FAO said.
For 2024 as a whole, the index averaged 122.0, 2.1% lower than the 2023 value, offsetting significant decreases in quotations for cereals and sugar with smaller increases in prices for vegetable oils, dairy and meats.
Sugar prices led December's monthly decline, dropping 5.1% month-on-month thanks to improving sugarcane crop prospects in the main producing countries to stand 10.6% below its December 2023 level.
Dairy prices declined after seven consecutive months of increases, losing 0.7% from November but still posting a 17.0% gain year-on-year. Vegetable oil prices dropped 0.5% month-on-month, but were up 33.5% on their year-earlier level.
Meat prices rose 0.4% in December from November and stood 7.1% above their December 2023 value.
The FAO cereal price index was little changed last month from November and was 9.3% below its year-earlier level, as a slightly uptick in maize quotations offset a drop in those for wheat, FAO said.
FAO did not provide a new forecast for global cereal production, with the next estimate due next month.