Photo: AFP PHOTO / STR
Meszár Tárik
25/10/2024 10:33
Ziyad Ali, Iraq’s Minister of Electricity, stated that the agreement will help ensure the supply of the necessary fuel for Iraqi gas power plants, adding that these plants currently provide about 60% of the country’s total electricity production.
Iraq is suffering from electricity shortages due to insufficient fuel supply to power plants, which has prompted the government to make efforts to diversify energy sources, increase gas imports, and invest in local gas extraction projects.
The Importance of Central Asia
The gas supply agreement with Turkmenistan is of high significance, not only for Iraq but also for the energy stability of the entire region. This cooperation highlights the growing role of Central Asia in the global energy supply, particularly in terms of natural gas exports. Turkmenistan, which holds the sixth-largest natural gas reserves in the world, emerges as a key partner capable of contributing to the energy needs of countries like Iraq. These energy collaborations are especially important as they help both parties achieve economic stability.
Iraq has long struggled with energy supply issues. One of its main suppliers is Iran, with which the country has faced difficulties in recent times. Iran occasionally reduces its gas supply due to Iraq's growing debt and challenges in repaying in U.S. dollars, a situation that has arisen due to international sanctions against Iran.
The significance of Central Asia’s energy market is continually increasing, as the countries in the region play an ever-larger role in the global gas supply. Turkmenistan’s geographical location and substantial energy reserves allow it to serve as a strategic link between Asia, the Middle East, and Europe. Such cooperation contributes to the development of regional energy infrastructure, enhancing energy security and geopolitical stability.
This agreement also highlights that the countries in the region are increasingly opening up to international partnerships to solve their internal energy supply issues while also contributing to meeting global energy demands. Strengthening the relationship between Iraq and Turkmenistan could serve as an example for other countries facing similar challenges in securing energy resources.
The author is a senior researcher at the Eurasia Center and the Migration Research Institute