- The Iraqi Cabinet approved principles of an energy cooperation framework with Siemens Energy, deepening collaboration with the German company.
- Iraq seeks to strengthen its power network and reduce reliance on Iranian gas imports, following recurring blackouts and ongoing partnerships with global energy majors.
The Iraqi Cabinet approved the principles of an energy cooperation framework with Germany’s Siemens Energy on Tuesday, August 26, the government said in a statement. The statement gave no further details.
Siemens has played a significant role in Iraq’s electricity sector. In 2023, the German company secured long-term service contracts for three Iraqi power plants and signed an agreement to develop the country’s power network.
Iraq remains heavily reliant on natural gas imports from Iran to generate electricity and continues to grapple with frequent power shortages, particularly during the summer. Earlier this month, electricity ministry officials said a sudden shutdown at the Hamidiya power plant triggered a major outage across central and southern Iraq.
Over the past two years, Baghdad has also signed energy agreements with international oil majors, including Chevron, France’s TotalEnergies, and BP, to stabilise its power supply and attract foreign investment.