Ziad Ali Fazel said Tuesday that Iraq needs 40,000 megawatts of electricity for complete stability in electricity, of which 26,000 megawatts are generated relying on imported gas.

Stressing that Iraq’s summer electricity generation capacity relies on Iran’s gas, Fazel added “But after completing the gas investment plan of the Ministry of Oil, we will reach gas self-sufficiency.”

Iran and Iraq have two gas contracts with a daily transfer volume of 60 million cubic meters, half of which is implemented on average.

Recently, with the blocking of a payment bill in the Trade Bank of Iraq, Iran’s gas exports to Iraq had decreased. However, following a barter agreement between Iran’s gas and Iraq’s crude oil, Iran’s gas exports resumed recently. 

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