Iran’s Reduced Gas Supplies Cause Iraq to Lose 5,000 Megawatts of Electricity

BAGHDAD, July 9 (Xinhua) — The Iraqi Ministry of Electricity revealed that Iraq has lost 5,000 megawatts of electricity due to a shortage of gas supply from Iran, according to the official Iraqi News Agency (INA) report on Sunday.

The decline in gas supplies from Iran, causing a loss of nearly 5,000 megawatts, combined with a gap of 10,000 megawatts due to insufficient national gas production, has had a negative impact on the electricity supply to citizens, noted the ministry spokesman Ahmed Musa in an interview with INA.

The ministry is currently coordinating with their Iranian counterparts to restore gas supply to the required quantities, while awaiting a resolution on the financial dues owed to Iran, Musa added.

As part of Iraq’s efforts to reduce dependence on imports, the country imports gas from Iran to fuel its power stations nationwide. However, Iran occasionally reduces gas supplies due to outstanding debts from Iraq.

In a previous statement, Iraqi Prime Minister Mohammed Shia’ al-Sudani stated that the government has initiated plans to invest in its associated gas and natural gas fields, aiming to decrease reliance on imports.

The Iraqi Oil Minister, Hayan Abdul-Ghani, announced in May that the country’s oil reserves had increased by 10 billion barrels and its natural gas reserves by 8 trillion cubic feet following a three-dimensional seismic survey near Basra, a significant oil hub located approximately 550 km south of Baghdad, the capital city.

If officially adopted, these new figures would boost Iraq’s proven reserves of crude oil to about 155 billion barrels and natural gas to roughly 140 trillion cubic feet.

It is important to note that the Organization of the Petroleum Exporting Countries (OPEC), of which Iraq is a member, has not yet officially endorsed these new figures.