Gulf electricity interconnection: It will supply Iraq with about “3.94 terawatt hours” annually

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[size=52]Gulf electricity interconnection: It will supply Iraq with about “3.94 terawatt hours” annually[/size]

[size=45]Informed sources revealed new details regarding the Gulf electricity interconnection project with Iraq, which aims to enhance cooperation in the energy field.[/size]
[size=45]The Gulf electrical interconnection has many advantages and benefits, including enhancing the stability of electrical networks and increasing their reliability, which reduces the possibility of power outages.[/size]
[size=45]The project also provides greater flexibility in meeting the increasing demand for energy, especially during peak periods. On the economic side, the connection contributes to reducing energy production costs through the use of more efficient power plants, and can support the transition to clean and renewable energy sources in the future.[/size]
[size=45]The CEO of the Gulf Interconnection Authority, Ahmed Al-Ibrahim, revealed new details about the advantages and benefits of the Iraqi-Gulf electricity interconnection on both sides.[/size]
[size=45]Al-Ibrahim said, “The signing of the contract by the Gulf Cooperation Council countries to implement the project to link the Gulf electricity market with Iraq will enable the Council countries to supply Iraq with about 3.94 terawatt/hour annually, at competitive prices that are less than the cost of local production.”[/size]
[size=45]He added, "This contract represents a regulatory framework for electricity trade deals between the GCC countries and Iraq, enabling these countries to sell surplus electricity production on the one hand, and Iraq to obtain electricity at a price lower than the cost of producing it on its territory."[/size]
[size=45]Al-Ibrahim explained that “this opportunity will allow for the competitive bidding of energy sales to the Republic of Iraq, and that it was agreed that there would be about 500 to 600 megawatts of export to the Republic of Iraq according to demand and according to the periods agreed upon between the two parties. He stated that the volume of trade will increase to about 4 million megawatt hours annually.”[/size]
[size=45]He stated that “implementing the project to link the Gulf electricity market with Iraq will contribute to the sustainability of energy supply and the establishment of local projects, and enhance 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 "at the beginning of next year, the actual operation of the connection with Iraq will begin, which is a promising step towards reaching Turkey, Europe, and the entire world. Our vision is that wherever electricity reaches, we will reach."[/size]
[size=45]He considered that “the Gulf electricity interconnection project is one of the most important infrastructure interconnection projects approved by the leaders of the GCC countries, and has received special attention from them, noting that the project has achieved many economic benefits.”[/size]
[size=45]Earlier, the Gulf Cooperation Council countries signed a contract to implement the project to link the Gulf electricity market with Iraq, which will enhance energy security.[/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]He added, "Implementing the project to link the Gulf electricity market with Iraq will contribute to the sustainability of energy supply and the establishment of local projects, and enhance the stability of Iraq's electricity grid, which reduces dependence 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 “necessity of 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]
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