Iraq diversifies, expands sources of energy and electricty
Iraq is looking to Arab partners to help expand energy production and imports to meet summer demand.
Iraq on June 10 paid debt owed to Iran for gas and electricity imports, according to the Islamic Republic News Agency (IRNA), transferring $1.6 billion to pay down debt acquired under the previous governments of prime ministers Haidar al-Abadi and Adel Abdul Mahdi.
Under the agreement between the two countries, Iran guaranteed access to 50 billion cubic meters of gas for the summer. However, a high-ranking source from Iraq’s Electricity Ministry told Al-Monitor that Iran is only providing Iraq with 40 billion cubic meters, which is not a sufficient amount to meet Iraq's needs in the summer when temperatures can soar above 50 degrees Celsius (122 Fahrenheit). Iran's gas industry has been handicapped as a result of a lack of investment due to US sanctions.
