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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Postponing the return of Iranian gas to Iraq to its normal levels

    Rocky
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    • Post n°1

    Postponing the return of Iranian gas to Iraq to its normal levels Empty Postponing the return of Iranian gas to Iraq to its normal levels

    Post by Rocky Sun 17 Sep 2023, 11:26 am

    Postponing the return of Iranian gas to Iraq to its normal levels
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    Baghdad today - follow-up
    The scorching summer season has passed for the Iraqis without them enjoying continuous electrical current that eases record temperatures. This month of September arrives, bringing with it their hopes of increasing Iranian gas supplies to their usual summer levels two years ago, amounting to 50 million cubic meters per day. However, the month has reached the middle without new.
    It seems that fulfilling the Iranian commitment will not be soon, as sources revealed in press statements that, “The Iranian side is seeking to postpone the implementation of the agreement until the beginning of next year (2024), while the Iraqi side is seeking to accelerate the pace of negotiations.”
    The spokesman for the Iraqi Ministry of Electricity, Ahmed Musa, had stated, in late July, that Iranian gas supplies would rise to a level ranging between 50 million and 55 million cubic meters per day, before the end of this month of September, but this had not been achieved in reality, and Musa did not comment on that.
    It is noteworthy that the usual levels of gas pumping from Iran to Iraq amount to about 21 million cubic meters per day in the winter, and rise to between 50 and 55 million cubic meters per day in the summer, but these quantities stopped two years ago, with the rise in Baghdad’s debts. To Tehran.
    The crisis of pumping Iranian gas to Iraq reached its peak at the end of the first half of this year, with Tehran insisting on obtaining the money owed to it by Baghdad first, and reducing supplies to their lowest level in a whole year, on the first of last July.
    On July 11, 2023, Iraq announced that the gas crisis coming from Iran was witnessing a breakthrough, with the signing of an agreement to swap imported Iranian gas for black oil (high sulfur fuel oil) from Iraq, in a step aimed at resolving the crisis of operating power stations, and avoiding financing problems, which are facing... US sanctions hinder payment.
    The Iraqi Ministry of Oil announced that the agreement contributes to achieving flexibility in gas supply operations from Iran, and ensuring the stable operation of power stations and energy production, but this step was preceded by Tehran obtaining $1.9 billion in Baghdad’s debts to it.
    Prime Minister Muhammad Shiaa Al-Sudani announced - at the time - that Iraq had fulfilled its financial obligations despite the complications imposed by US sanctions on transfer operations, as the money was transferred to the accounts of Iranian companies in the Commercial Bank of Iraq.
    Details of the agreement between the two countries
    According to the agreement between the two countries, Baghdad supplies Tehran with about two million tons of high-sulfur fuel oil, in addition to 30,000 barrels per day of crude oil, starting last August, for a period of 6 months, in exchange for obtaining Iranian gas.
    Iraqi fuel oil, whose quantity is equivalent to about 71 barrels per day, comes from the Qayyarah oil field, which was recently restarted, and quantities may gradually increase.
    The agreement aims to allow Tehran to obtain money in exchange for the Iranian gas that Baghdad will obtain, in order to avoid the difficulties witnessed in direct money transfers, due to the American sanctions imposed on paying for Iranian gas and oil.
    It is noteworthy that Iraq, until last July, owed Tehran $12.12 billion; This forced the Iranian side to reduce gas supplies to Iraq by more than 50%, after it was unable to obtain its financial dues.
    Therefore, the agreement between the two sides aimed for Tehran to obtain gas in return, and at the same time Iraq would guarantee the continued pumping of Iranian gas without stopping, to avoid a crisis in the electricity sector, and to continue the flow of electrical energy in the country.
    For the Iranians, the agreement allows the United States to weaken its influence in the region, especially with continued American pressure on Iraq to abandon its imports of Iranian gas.
    Despite this, Iran did not increase the pumping of gas further during the current month, which is what the Iraqis are waiting for within the agreement between the two countries, as the sources confirmed that Baghdad is seeking to accelerate the pace of negotiations with the Iranian side, to obtain supplies within the agreed upon limits, at the beginning of 2024, and next summer.

    Source: Specialized Energy Platform
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