Iraq is negotiating to acquire two floating storage regasification units (FSRUs) by June to address power shortages after the U.S. ended a waiver allowing Iraqi electricity imports from Iran. The FSRUs, set for installation near Basra’s Khor al-Zubair port, will help meet Iraq’s rising gas demand.
Iraq meets 60% of its gas needs domestically but relies on imports, especially during peak demand. The government has launched a tender for a fixed regasification platform at Grand Faw port and aims to end gas flaring by 2028.
Talks with oil companies in Kurdistan are progressing, with hopes of resuming northern exports soon.Although Iraq has frequently reported progress on restarting the northern export pipeline, oil producers in the region say they need more clarity on compensation, and export contracts are not yet finalized.Iraq has committed to staying within its OPEC+ production quota after the pipeline resumes but has not specified how it will manage this.
