Iraq energy storage project brokerage fee

Is foreign help enough to fix Iraq's energy problems?

Foreign help is not enough to fix energy issues, domestic reform is necessary. This past July, Iraq and France’s TotalEnergies finalized the Gas Growth Integrated Project, a $27 billion energy deal aimed at Iraq’s natural resources and improving the country’s electricity supply.

Is Iraq reviving a $27 billion deal with totalenergies?

REUTERS/Eric Gaillard Purchase Licensing Rights BAGHDAD, April 4 (Reuters) - Iraq said on Tuesday it has agreed to a smaller 30% stake in TotalEnergies (TTEF.PA) long-delayed $27 billion project, reviving a deal that Baghdad hopes could lure back foreign investment into the battered country which craves stability.

How much will ggip cost Iraq?

At the time, Total envisaged the GGIP would be a $10bn investment — an amount confirmed again on Wednesday, although the Iraqi authorities say this will reach $27bn once operating spending is included. In talks with the new Iraqi government formed in October, however, wrangling over the size of Baghdad’s stake in the GGIP delayed a deal.

Can Iraq's gas growth integrated project overcome corruption and political instability?

But that’s only if the parties implementing the agreement can overcome the endemic corruption and political instability that has undermined Iraq’s oil sector for more than two decades. The Gas Growth Integrated Project focuses on bolstering the country’s oil-rich but underdeveloped Basra province.

Will totalenergies boost Iraq's economy & create jobs?

TotalEnergies CEO Patrick Pouyanné nevertheless struck an upbeat tone at the signing ceremony, saying the agreement would boost Iraq’s economy and create jobs, with Iraqis making up at least 80% of the project’s workforce.