Floating Gas Terminal Deal Agreed for Iraq's Khor al-Zubair

A floating gas platform project at Khor al-Zubair is set to proceed following a meeting in Washington between Prime Minister Ali al-Zaidi and the chief executive of US-based Excelerate Energy.

In October, the Ministry of Electricity and Excelerate Energy agreed on a floating storage and regasification unit (FSRU) with a capacity of 15 million cubic metres per day. The five-year renewable agreement would supply natural gas to power generation plants, supporting diversification of gas sources to meet national demand.

An earlier statement from Excelerate Energy put the total project investment at approximately US$450 million, inclusive of the cost of the FSRU.