KTFA
Clare » June 27th, 2025
Iraq discusses with an American company the establishment of a floating gas storage unit
6/26/2025 – Baghdad
The American Oil Price website revealed on Thursday that Iraq is in talks with Texas-based Excelerate Energy to establish a floating gas storage unit (FSU) to assist in the gas import process. The FSU will be located at the Khor al-Zubair port in Basra.
The website reported that Texas-based Excelerate Energy is one of the bidders in a tender to provide a floating storage and regasification unit (FSRU) that would welcome Iraq’s first imports of liquefied natural gas.
The report added that “Baghdad, which is seeking to wean itself off Iranian gas supplies for power generation, is in advanced talks with Excelerate Energy regarding liquefied natural gas (LNG) import infrastructure at the Khor al-Zubair port in Basra.”
The report quoted Ali Salman, acting general manager of the South Gas Company, as saying to Bloomberg, “Excelerate Energy, an American company that provides floating LNG import terminals, develops LNG import infrastructure, and supplies LNG and natural gas, is one of the applicants for Iraq’s plan to begin importing LNG. South Gas Company is overseeing the development of the gas import project.”
He explained that “Iraq has long relied on Iran for imports of natural gas and electricity, and despite being a major oil producer, Iraq has historically experienced high levels of associated gas flaring rather than collecting it in the gas supply chain.” He explained that “during the summer months, during peak electricity demand, Iraq often suffers from severe power outages and frequent blackouts due to unstable and insufficient gas and energy supplies from Iran.”
Earlier this year, Iraq’s electricity supply problems worsened after the T------------------n ended the waiver granted to Iraq to import electricity from Iran. Under pressure to reduce its reliance on Iranian energy for years, Iraq began exploring alternative gas sources, including the option of importing liquefied natural gas (LNG).
At the end of last year, Iraq signed a gas supply agreement with Turkmenistan, guaranteeing it 20 million cubic meters of gas per day. LINK
Advertisement
______________________________________________________
APIKUR ready to resume Kurdistan oil exports pending payment guarantees
6/26/2025
SULAIMANI, Kurdistan Region — The Association of the Petroleum Industry of Kurdistan (APIKUR) announced early Thursday that its member companies are ready to immediately resume oil exports from Kurdistan through the Iraq-Turkey Pipeline (ITP) once payment guarantees for past and future shipments are secured. APIKUR emphasized that reopening the ITP would add over 300,000 barrels per day to the international market.
In a statement consistent with its previous position on resuming oil exports, APIKUR reiterated that restarting oil exports from the Kurdistan Region remains contingent on guarantees for outstanding and future payments. The organization underscored the geostrategic urgency of reopening the Iraq-Türkiye Pipeline, highlighting that it provides Iraq with a secure and reliable export route to global oil markets through the port of Ceyhan.
“Resuming exports through the ITP adds more than 300,000 barrels per day to the international market,” the statement read.
Addressing the readiness to end the stalemate over oil exports, APIKUR stressed that member companies are prepared to immediately resume exports once payment guarantees are in place.
Meanwhile, Kurdistan Region Prime Minister Masrour Barzani said on Wednesday that the suspension of oil exports — halted since March 2023 — has cost the Region $25 billion in losses. He added that international oil companies are willing to resume production if their basic costs are recognized but require guarantees from Baghdad.
Barzani also revealed significant progress in resolving outstanding issues, with only a few points remaining—mainly related to the ‘scope of work,’ including assigning a third party to review costs. He called for a resolution of the dispute between the federal government and oil companies to protect company rights and ensure the Kurdistan Region’s compliance with contracts.
With a high-level Iraqi delegation, including representatives from the Federal Oil Ministry, set to visit Erbil next week to address outstanding issues between Baghdad and the KRG, oil export resumption is expected to top the agenda, with Prime Minister Barzani expressing optimism about a positive outcome.
Advertisement
______________________________________________________
Despite several rounds of tripartite negotiations between the Iraqi Ministry of Oil, the KRG’s Ministry of Natural Resources, and international oil companies — following the amendment of the federal budget law in February, which was seen as a step to break the stalemate — no agreement has been reached to resume oil exports, with each side trading accusations over the delay.
Oil exports from the Kurdistan Region via Turkey’s Ceyhan port remain halted following a ruling from the Paris-based International Court of Arbitration, which determined that Turkey violated a 1973 treaty by permitting these exports without Baghdad’s approval. LINK
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
