Iraq Contracts Excelerate Energy for Floating LNG Import Terminal Construction
Iraq's Council of Ministers has approved a contract with Excelerate Energy for a floating LNG import terminal. This initiative, based on Cabinet Decision No. 878 of 2025, follows an agreement for a floating storage and regasification unit with a capacity of 15 million cubic metres per day. The renewable five-year contract aims to supply natural gas to power generation plants, enhancing gas source diversity to meet national demand.
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Iraq's Council of Ministers has authorized the Ministry of Electricity to contract Excelerate Energy for a floating LNG import terminal. This decision is part of efforts to establish a floating LNG import terminal, following Cabinet Decision No. 878 of 2025.
In October, an agreement was made for a floating storage and regasification unit (FSRU) with a capacity of 15 million cubic metres per day. The five-year renewable contract will supply natural gas to power generation plants, supporting the diversification of gas sources to meet national demand.
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