Baghdad: The Iraqi Ministry of Electricity has reported a significant loss of 5,000 megawatts (MW) of electricity due to a shortage in gas supply from Iran.
According to Ministry spokesperson Ahmed Musa, the decline in gas supplies from Iran, coupled with a shortfall of 10,000 MW caused by insufficient national gas production, has adversely impacted the electricity provision to Iraqi citizens.
Musa conveyed this information to local media, highlighting the urgent need to coordinate with Iran to restore the required quantities of gas while resolving outstanding financial dues.
To meet its energy requirements, Iraq relies on gas imports from Iran, which intermittently reduces supplies due to accumulated debts owed by Iraq.
In response to this ongoing challenge, Prime Minister Mohammed Shia' al-Sudani recently announced the government's plans to invest in its associated gas and natural gas fields.
This strategic move aims to reduce Iraq's dependence on gas imports and foster greater energy independence.
Efforts are now underway to address the gas supply issue, with the Iraqi Ministry of Electricity actively working towards resolving the financial obligations and coordinating with Iran to restore the necessary gas quantities. The government recognizes the critical importance of securing a stable and reliable energy supply to meet the growing demands of the Iraqi population.
In May, Oil Minister Hayan Abdul-Ghani said the country's oil reserves increased by 10 billion barrels and its natural gas reserves by 8 trillion cubic feet after a three-dimensional seismic survey near Basra, a key oil hub located about 550 km south of the capital Baghdad.
The new figures would raise the proven reserves of Iraq's crude oil to about 155 billion barrels and natural gas to about 140 trillion cubic feet.
It is worth noting that the Organization of the Petroleum Exporting Countries, of which Iraq is a member, has not officially adopted the new figures yet.