Iraq accelerates Gulf gas imports as US ends Iran energy waivers
Shafaq News/ Iraq is shifting to Gulf gas imports to replace Iranian supplies after the expiration of US sanctions waivers, while also fast-tracking a major gas pipeline project in Basra, Parliament's Oil ane Gas Committee said Sunday.
On March 8, 2025, the US waiver allowing Iraq to buy Iranian gas expired, blocking Baghdad from continuing its reliance on Tehran for power generation.
Commitee spokesperson Ali Shaddad told Shafaq News that Iraq's electricity sector faces challenges because many power plants depend solely on gas. However, Basra's plants operate on gas, crude oil, and heavy fuel, ensuring greater grid stability.
Shaddad revealed that Prime Minister Mohammed Shia Al-Sudani is personally overseeing the rapid completion of a gas pipeline from Basra's floating platform, a project launched 30 days ago by the Oil Ministry.
"The pipeline is progressing at an accelerated pace and is expected to be completed within 120 days," he said, noting that 30% of the work is already done.
Once operational, the pipeline will transport up to 200 million standard cubic feet per day (mmscf/d) of Gulf gas to Iraq's power grid.
On Sunday, the US State Department formally ended Iraq's special exemptions that had allowed Baghdad to purchase Iranian electricity.
For years, Iraq has relied on Iranian gas and electricity imports, especially during peak summer demand, benefiting from periodic US waivers issued multiple times a year.
In October 2024, Iraq signed a deal with Turkmenistan to import 20 million cubic meters of gas per day via Iranian pipelines using a swap mechanism. However, implementation has stalled due to technical issues, according to Iraq's Ministry of Electricity.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
2 hours ago
- Shafaq News
US, China strike deal to ease trade curbs
Shafaq News/ The United States and China have reached a preliminary agreement to ease export restrictions and revive their fragile trade truce, US and Chinese officials announced on Wednesday following two days of intensive talks in London. US Commerce Secretary Howard Lutnick described the outcome as adding "meat on the bones" of the previous Geneva understanding, which had stumbled over China's continued curbs on rare earth exports. Under the new framework, Beijing has agreed to lift export restrictions on rare earth minerals and magnets, while Washington will ease some of its recent export controls on sensitive technologies, including semiconductor design software, aircraft, and other goods. Specifics of the mutual rollbacks were not disclosed. 'We have reached a framework to implement the Geneva consensus and the call between the two presidents,' Lutnick said at a late-night press briefing in London. 'If approved, we will then implement the framework.' China's Vice Commerce Minister Li Chenggang confirmed the agreement in principle, noting that both parties will now present it to their respective leaders for final approval. Notably, Trump's shifting tariff policies had rattled global markets and disrupted supply chains, with the World Bank this week lowering its 2025 global growth forecast to 2.3%, citing instability as a key risk. Despite the diplomatic breakthrough, officials and analysts cautioned that deep disagreements remain unresolved—particularly over Washington's unilateral tariff policies and China's state-supported industrial model. 'They are back to square one,' said Josh Lipsky of the Atlantic Council's GeoEconomics Center. 'But that's much better than square zero.' Both sides have until August 10 to finalize a broader accord. Without a deal, tariffs could snap back sharply—rising from around 30% to 145% on US imports from China, and from 10% to 125% on Chinese imports from the US.
Shafaq News
3 hours ago
- Shafaq News
Yazidi community in Iraq urges to act on UN genocide recommendations
Shafaq News/ Yazidi MP Sherif Suleiman Ali on Wednesday called on Iraq to implement UN recommendations addressing the enduring impact of the 2014 ISIS genocide. His appeal followed a UN Security Council briefing where UN Secretary-General's Special Representative for Iraq Mohamed Al Hassan praised Iraq's recognition of Yazidi land rights as a 'significant milestone,' citing over 1,300 ownership letters and nearly 100 title deeds issued this year, while cautioning that paperwork alone won't restore lives, urging a national strategy that includes reparations, security guarantees, and efforts to locate thousands of missing Yazidis from the Sinjar attack. In a statement, Ali endorsed Al Hassan's remarks as an 'accurate' reflection of the crisis, pushing for action beyond symbolic recognition. 'Genocide, abductions, and displacement persist. Many Yazidi women remain missing, and families can't return.' He demanded a comprehensive plan ensuring safe return, legal acknowledgment of losses, compensation, and prosecution of ISIS through specialized courts, emphasizing, 'Justice requires accountability and lasting protection.'
Shafaq News
3 hours ago
- Shafaq News
OPEC Chief: Global oil demand to surpass 120M bpd by 2050
Shafaq News/ Global oil demand will remain strong for the next 25 years, according to OPEC Secretary General Haitham Al Ghais, who attributed the projected growth to rising global population and increasing energy needs. Al Ghais, speaking at the Global Energy Show 2025 in Calgary, Alberta, said energy demand worldwide is expected to grow by 24% between now and 2050, with oil consumption forecast to exceed 120 million barrels per day. These estimates align with OPEC's World Oil Outlook 2024. 'There is no peak in oil demand on the horizon,' he said, pushing back against forecasts that suggest fossil fuel demand will soon plateau or decline. The OPEC chief praised Canada's oil sector for expanding output in recent years. He noted that the completion of the Trans Mountain pipeline expansion helped Canada achieve record crude production in 2024 by improving export capacity. Al Ghais also confirmed that OPEC has begun unwinding its production cuts more rapidly than originally planned, increasing output by 411,000 barrels per day across May, June, and July of this year. He further welcomed recent opposition to what he called 'unrealistic climate goals,' emphasizing the need to reduce emissions without marginalizing specific energy sources. Instead, he urged governments and companies to invest in technologies like carbon capture and storage to lower the environmental footprint of oil and gas production.
