Iraq’s Prime Minister Mohammed Shia al-Sudani stated on Saturday that the government is moving forward with the development of clean and renewable energy sectors.
Speaking at the opening of the Iraq Energy Exhibition and Conference, al-Sudani said Iraq has made significant progress in capturing associated gas, with the rate of flaring reduced by more than 72%.
He said flaring will be fully eliminated by the end of 2028.
“We have infrastructure projects at the level of the Ministry of Oil that ensure export capacity and the diversification of export outlets,” al-Sudani said, according to the Iraqi News Agency.
He added that Iraq is holding talks with international companies to invest in associated gas and free gas in oil fields and exploration blocks, expressing hope that the conference would help reinforce this direction. He said the government has also moved toward establishing a permanent platform to secure Iraq’s gas needs through imports or future exports.
Al-Sudani stated that the Ministry of Electricity is working to increase power generation under an ambitious plan that exceeds 57,000 megawatts through the Siemens and GE project.
He added that the ministry is also advancing renewable energy projects, both large and small, with a plan at the district and subdistrict levels in Baghdad and other provinces to transition to renewable energy, which is expected to be implemented by next summer.
He said the government is placing strong emphasis on both conventional and renewable energy in a way that ensures sustainable development.
Al-Sudani stated that the exhibition showcases Iraq’s position as a promising market with significant opportunities in the energy sector, through various projects, partnerships, and investment opportunities.
He said the government has made significant progress in boosting energy production through major oil projects in partnership with global companies, including TotalEnergies and BP, adding that talks are ongoing with ExxonMobil, Chevron, and other international firms.
Talks with Chevron
Iraq’s Oil Minister Hayan Abdul Ghani said talks are underway with Chevron regarding the West Qurna 2 oil field, which is operated by Lukoil and represents the company’s largest foreign asset.
Chevron and Exxon Mobil are among the potential bidders for Lukoil’s overseas assets following the imposition of US sanctions on the Russian oil producer.
Speaking to reporters after the opening of the energy exhibition and conference, Abdul Ghani stated that negotiations with Chevron over the West Qurna 2 field in Basra province are ongoing.
He added that Basra Oil Company, the second partner in the field, has not yet taken over operations following Lukoil’s withdrawal.
Al-Sudani opened the 11th edition of the Iraq Energy Exhibition and Conference in Baghdad on Saturday, with the participation of more than 450 local, Arab, and international companies specializing in energy and investment.
The event runs for three days.
The Iraqi Company for Exhibitions and Commercial Services said the conference, held at the Baghdad International Fairgrounds from Jan. 10 to 12, will feature panel discussions, specialized workshops, and meetings aimed at supporting the energy sector and expanding partnership and investment opportunities, with participation from more than 450 companies.
Iranian gas
Iraq’s Ministry of Electricity said there are no indications that Iranian gas supplies will resume soon.
A ministry spokesperson stated that media outlets were notified via a message from Iran on Telegram, which indicated that gas supplies had been halted due to low temperatures and Tehran’s domestic gas needs.
Iraq announced in December that Iranian gas supplies had ceased, resulting in the shutdown of some power generation units and load reductions at others. The Ministry of Electricity said the grid lost between 4,000 and 4,500 megawatts as a result.
Iran supplies between 30% and 40% of Iraq’s gas and electricity needs.
Electricity ministry officials previously stated that peak winter demand in Iraq reaches approximately 48,000 megawatts, while domestic production stands at around 27,000 megawatts, forcing the country to rely on imports to bridge the gap.
