ERBIL, Kurdistan Region of Iraq – Iraqi Oil Minister Hayyan Abdul Ghani on Monday received his Iranian counterpart Mohsen Paknejad, with the pair signing a number of memoranda of understanding to "enhance joint cooperation."
"The Iraqi and Iranian sides held a meeting during which mechanisms for cooperation between the two countries in various sectors were discussed. Memoranda of Understanding and agreements were signed in the field of expertise exchange and joint cooperation, serving the interests of both countries," a statement by the Iraqi oil ministry read.
Iraq has recently begun trying to address an over-reliance on Iran to fuel its power grid, after the US declined to renew a sanctions waiver allowing Iraq to buy electricity from Iran as part of President Donald Trump’s “maximum pressure” campaign against Tehran.
Iranian gas supplies currently account for between 30 to 40 percent of Iraq’s energy needs. These imports are especially crucial during the summer months when temperatures can reach 50°C and energy demand peaks.
Iraq has already said it was working to address any potential energy crisis if Iranian gas is completely cut off in the coming period.
The minister of oil of Iraq said Baghdad has "promising gas investment projects and is working to achieve self-sufficiency in petroleum products," the statement added.
Paknejad, for his part, highlighted "the importance of continuing relations between the two countries in all fields," while thanking the Iraqi host for "the warm welcome."
In late March, Iraq said it was working to import gas from four countries via a floating platform in order to enhance its energy supply, including from Qatar, Algeria, Indonesia, Brazil, and “other countries on the global market."
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