We welcome significant progress in Iraq this week with respect to energy deals that further strengthen Iraq’s sovereignty, independence, and economic prosperity. First, the Government of Iraq and the Kurdistan Regional Government reached a historic agreement on the export of oil and management of revenues through the Iraq-Turkey Pipeline. This agreement paves the way for a multi-year budget now before Iraq’s Council of Representatives and an eventual hydrocarbons law for long-term stability and predictability in Iraq’s energy sector. Second, the Government of Iraq reached an unprecedented $27 billion deal with France’s TotalEnergies, including a project to enable the recapture and use of flared gas in southern Iraq. Once implemented, this historic project will increase electricity supply for the benefit of the Iraqi people, advance Iraq’s energy self-sufficiency, reduce harmful climate effects from flared gas in southern Iraq, and allow for the export of gas products to new markets. We are pleased that companies from Qatar, Saudi Arabia, and the United States will play important roles in this infrastructure project. The United States is proud to support these and other regional projects and ongoing diplomatic initiatives to advance a more stable, interconnected, and prosperous Middle East region, which ultimately benefits the United States and the American people.
Official news published at https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/07/statement-from-national-security-advisor-jake-sullivan-welcoming-developments-in-iraqs-energy-sector/
The post Statement from National Security Advisor Jake Sullivan Welcoming Developments in Iraq’s Energy Sector first appeared on Reliable News.
originally published at Politics - Reliable News