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Standard & Poor's: Iraq needs $ 10 billion for independence from Iranian gas
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Economy News _ Baghdad
Standard & Poor's said that with the end of the last US extension period to Iraq to import Iranian gas and electricity after 3 days, Iraq will need to mobilize investments estimated at about $ 10 billion over four years to dispense with Iranian imports at a time when Iraq is also struggling with low oil prices
The agency added that Iraq needs to implement regular projects according to a specific timetable, not tainted by corruption or external interference in order to work on gas generation and provide the necessary raw materials for power stations to generate electricity independently of Iran, noting that Iraq needs to generate about 1.3 billion feet Daily cube of gas.
The agency pointed out that Iraq since 2003 has suffered from the absence of huge investments capable of providing a big leap in this field and achieving its independence
The agency surveyed the opinion of the US State Department spokesman on extending Iraq’s exemption from Iranian sanctions, but he said the United States is dealing regularly with the Iraqi government on energy security and that granting a waiver is at the minister’s discretion, as is the scope and duration.
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