Iran-Iraq electricity contract signed

By  Trend

Iraqi minister of electricity announced the signing of an electricity agreement between Iran and Iraq.

On Dec. 27, 2018, Iranian Energy Minister Reza Ardakanian and Iraqi Minister of Electricity Luay al-Khatteeb signed a Memorandum of Understanding (MOU) for energy cooperation after two days of intensive talks in Baghdad.

“A memorandum of understanding was signed, which became a contract today,” Minister Luay al-Khatteeb said on the sidelines of a meeting with the Iranian minister of energy in Tehran, Trend reports citing ILNA.

The Iraqi minister said the MOU envisages cooperation in new energy technologies and sharing technical know-how and experience with the Iranian side.

Governors of the central banks of Iran and Iraq on Tuesday signed an agreement to facilitate the settlement of Baghdad’s debts to Tehran.

Iraq’s due debts to Iran, worth $2 billion, are for imports of electricity and gas as well as other goods over the past years.

Iraq imported 1,000 megawatts of electricity from Iran for years to cope with energy shortages.