In response to power shortages following the end of U.S. waivers on Iranian electricity imports, Iraq is accelerating plans to deploy two Floating Storage Regasification Units (FSRUs) by June 2025 near Basra’s Khor al-Zubair Gulf port. These floating terminals will allow the country to import and convert LNG to natural gas to meet soaring electricity demands.
Key developments:
🔹 Iraq currently relies on imports for up to 50% of its gas needs during peak demand.
🔹 A tender has also been launched for a fixed regasification terminal at Grand Faw Port.
🔹 The country aims to eliminate gas flaring by 2028 and increase energy independence.
This highlights the growing importance of floating energy infrastructure for energy security and transition.
Read more: https://www.bloomberg.com/news/articles/2025-03-23/iraq-in-talks-over-floating-gas-terminals-to-bridge-power-gap