Latest news with #IraqEnergyconference
Shafaq News
29-01-2025
- Business
- Shafaq News
Iraq's Electricity Minister highlights fuel shortage as key challenge
Shafaq News/ Iraq's Minister of Electricity, Ziyad Ali Fadel, has identified fuel provision for power generation as the 'key challenge' facing his ministry. Speaking at a panel discussion titled Vision and Strategy of the Electricity Ministry on the second day of the Iraq Energy conference in Baghdad, Fadel underscored the ongoing fuel shortage and its impact on production units. 'Production rates are 60-70% dependent on fuel, and this issue has burdened the ministry for many years,' he stated, outlining a strategic vision to mitigate the crisis by investing in associated gas and reducing reliance on imported fuel. Fadel highlighted key developments in Iraq's energy sector, noting that 'the ministry has completed interconnection projects with neighboring countries, securing an additional energy source.' He also emphasized Iraq's commitment to renewable energy, revealing that ongoing and planned projects are expected to generate 1,800 megawatts upon completion. The minister also announced that Iraq will soon sign a contract with UAE-based Masdar to produce approximately 1,000 megawatts of electricity, affirming that 'the ministry is focused on reducing dependence on imported fuel through multiple strategic initiatives.' Addressing the anticipated electricity demand for the upcoming summer, Fadel projected it to reach 55,000 megawatts, while Iraq's production capacity may only reach 29,000 megawatts. To bridge this gap, he pointed to interconnections with neighboring countries, collaboration with the Kurdistan Region, and agreements to import gas from Turkmenistan as essential measures.
Zawya
29-01-2025
- Business
- Zawya
Crescent Petroleum sees Iraq's Diyala province as hub for gas industry
Iraq's Northeastern Diyala province could emerge as a key hub for gas industry through strategic investments in its gas fields, according to Abdullah Al-Qadi, CEO of UAE-based Crescent Petroleum. Speaking at the Iraq Energy conference in Baghdad on Tuesday, Al-Qadi highlighted challenges in fast-tracking gas production at the Al-Khashm Al-Ahmar field, citing bureaucratic delays within Iraqi state institutions. "We aimed for rapid development, similar to our success at the Kor Mor field in al-Sulaymaniyah, where the Kurdistan Regional Government (KRG) granted us the necessary clearances to achieve production within 15 months. However, in Diyala, administrative hurdles have slowed progress," he said. He added that that despite these obstacles, the project remains on track for completion within two years. He also emphasised Diyala's potential to become a 'gas industry hub' by linking its fields with nearby reserves such as Ajil and even those in al-Sulaymaniyah. In 2023, Iraq's Ministry of Oil activated three contracts with Crescent Petroleum to develop the Al-Khashm Al-Ahmar, Kallabat, and Khider Al Mai fields, as part of the fifth licensing round aimed at harnessing 400 million standard cubic feet of gas. The development of Iraq's gas sector holds transformative potential for the country's economy leading to energy self-sufficiency and opening up opportunities for gas exports. Additionally, utilising gas from fields like Khawr Al-Zubair, Kallabat, and Khider Al Mai could reduce reliance on oil and lower import costs, strengthening Iraq's energy security while fostering industrial growth in sectors such as petrochemicals and fertilisers. (Reporting by Nadim Kawach; Editing by Anoop Menon)
