Iraq requires companies to build energy storage

What's going on with Iraq's natural gas deal?

REUTERS/Mohammed Aty/File Photo Purchase Licensing Rights WASHINGTON, April 17 (Reuters) - Iraqi and U.S. companies signed a series of agreements on Wednesday to capture natural gas traditionally flared from Iraq's oilfields and use it to produce domestic power while reducing dependence on neighboring Iran for energy.

How can Iraq improve energy sustainability?

According to Jafar, current operations in Iraq, like reducing carbon dioxide emissions and using natural gas to enable renewable sources, are vital to developing energy sustainability and contributing to the global climate agenda.

Will Iraq rebuild its power sector?

In October 2018, a memorandum of understanding was signed with Iraq to rebuild its power sector in three phases within four years from financial close. “There was a need,” says Siemens Energy Iraq Managing Director Musab Alkateeb, who hails from the capital of Baghdad.

Will Iraq's power sector be more efficient?

Thus, according to local energy experts, the power sector will be more efficient. The Siemens Energy Iraq Managing Director points out the inefficiencies in Iraq’s power grid, which amount to 50 percent in losses. “Even if we just improve on the efficiency side,” he says, “the delivery of electricity to Iraq’s homes and factories will be improved.”

What is Iraq's Energy Plan?

The plan includes several key pillars that support the government’s goals to enhance Iraq’s power infrastructure, as well as promote decarbonization and energy sector diversification.

Does Iraq need more foreign investment?

Iraq has struck a major deal with France’s TotalEnergies company, bringing in $27 billion in foreign investment to build up natural resource development and electricity supply. Iraq has long desired greater foreign direct investment. Its new government inherited the work of predecessors and is finally seeing results.