Article Date: October 28, 2025
Iraq has signed a $450 million investment deal with Excelerate Energy to construct the country’s first floating storage and regasification unit (FSRU) at the port of Khor al-Zubair.
The project will:
- Enable up to 500 MMscf/d of LNG regasification capacity.
- Operate under a five-year contract (with extension options) providing LNG supply and regasification services.
- Guarantee a minimum of 250 MMscf/d of LNG offtake.
Currently under construction in South Korea, the vessel will allow Iraq to integrate LNG into its power grid, supporting energy diversification and reducing dependence on Iranian gas.