BAGHDAD: The Iraqi Ministry of Electricity announced the signing of a deal with Turkmenistan to import up to 20 million cubic meters of gas per day to supply Iraq's power stations.
Iraqi Electricity Minister Ziyad Ali Fadhil on Saturday said the agreement is an important step to diversify gas sources to meet the fuel needs of power plants, according to a statement by the ministry.
It added that the agreement came after extensive negotiations that outlined the tariff price, gas quantities, supply method, and contract duration, reports Xinhua news agency.
Meanwhile, the official Iraqi News Agency said that Turkmenistan would supply Iraq with 20 million cubic metres of gas per day during summer and 10 million cubic metres per day during winter.
The gas deal with Turkmenistan is crucial for oil-rich Iraq, as Iran occasionally reduces its gas supply due to Iraq's mounting debts and difficulties in paying off in US dollars as a result of US sanctions on Iran.