Signing the contract to implement the Gulf electricity interconnection with Iraq

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[size=52]Signing the contract to implement the Gulf electricity interconnection with Iraq[/size]

[size=45]The Gulf Cooperation Council countries signed a contract to implement the Gulf electricity market linkage project with Iraq, which will enhance energy security and allow the GCC countries to supply Iraq with about 3.94 terawatt-hours annually at competitive prices lower than the cost of local production, leading to a reduction in public expenditures.[/size]
[size=45]The signing took place at the headquarters of the Gulf Interconnection Authority in Dammam, eastern Saudi Arabia, under the patronage of Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Province, who launched the update of the control center systems for the electrical interconnection network, which aims to improve the efficiency and flexibility of electricity systems in the face of current and future challenges.[/size]
[size=45]Bin Badr Al-Aziz stated that implementing the project to link the Gulf electricity market with Iraq will contribute to the sustainability of energy supply, the establishment of local projects, and the enhancement of the stability of Iraq’s electricity grid, which reduces reliance on expensive traditional energy sources and increases the effectiveness of using available resources.[/size]
[size=45]He stressed that the Gulf electricity interconnection project is one of the strategic projects that strengthens the bonds of cooperation in the economic and social fields between the GCC countries and neighboring countries, and enjoys the support of the leaders of the GCC countries in order to achieve security and stability of the energy system in the region.[/size]
[size=45]Bin Abdulaziz stressed the need for expansion and that the role should not be limited to ensuring the flow of energy only; as the actual steps have begun through signing memoranda of understanding to study the possibility of electrical interconnection with Iraq, Jordan and Egypt, and at the beginning of next year, the actual operation of the interconnection with Iraq will begin.[/size]
[size=45]He explained that signing the contract to implement the Gulf electricity market linkage project with Iraq will contribute to enhancing energy security and enable the GCC countries to supply Iraq with about 3.94 terawatt-hours annually, according to the goals set for 2025, and at competitive prices less than the cost of local production, which will lead to reducing public expenditures.[/size]
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