MilitiaMan Tuesday PM "A Deal in Progress" 1-19-2021

KTFA:

MilitiaMan:   They have had a deal in progress now for some time.( see articles below) Investors know the need for 24/7 power. Payments, settlements, communications, borders, etc. all need power.

The reconstruction effort to come will demand it and it looks as though the region has it ready to implement, as financing is now complete.

That financing would have to have a rate at which they must have agreed upon. Imo, it will not be or was not to be at 1460.. Not when the USA relinquished control over Iraq's Oil and or other assets abroad..

We shall see.. imo ~ MM

Samson:  An official Gulf announcement to complete the financing matters to initiate the electrical interconnection project with Iraq

18th January, 2021

The Secretary-General of the Gulf Cooperation Council, Nayef Al-Hajraf, announced, on Monday, the completion of financing matters to begin the electrical interconnection project with Iraq.

Al-Hajraf said in a press statement carried by the Iraqi newspaper Al-Sabah, "Financing matters have been completed to start the electrical interconnection project with Iraq."

He continued, "The next stage will be a stage of work and the completion of actual projects with Iraq." 

************

  Published date: 17 July 2020 16:47 UTC

A deal between Washington, Baghdad and six Gulf states to connect Iraq's electricity grids to the Gulf Cooperation Council (GCC) grid is moving forward, almost a year after the plan's inception. 

The US State Department said in a statement on Thursday that the six countries that make up the Gulf Cooperation Council Interconnection Authority (GCCIA) - Saudi Arabia, Kuwait, Bahrain, Qatar, Oman and the UAE - affirmed their shared support for a project to supply electricity to Iraq.

The deal is set to help Baghdad with its chronic electricity shortage and help wean it off Iran's power supply.

"The Government of Iraq, Gulf Cooperation Council, and United States look forward to increased close economic and energy cooperation between the United States, Iraq and the GCC countries, as a basis for peace, development, and prosperity in the region," the State Department said. 

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The department added that the US "is committed to facilitating" the project "and providing support where needed". 

The US has a politically motivated interest in Iraq's electricity shortages because the country relies heavily on neighbouring Iran for its energy.

US sanctions forbid other countries from purchasing Iranian energy, so Iraq has had to request sanctions waivers from Washington every few months in order to continue its imports without drawing the ire of the US. 

The last such waiver was announced in early May for a period of 120 days.

Despite the GCCIA plan and the current waiver's September expiration date, Iran announced last month that it had signed a two-year energy-exporting contract with Iraq, expected to give Baghdad an immediate boost.

It was unclear if the US had approved the two-year contract between Baghdad and Tehran. 

Iraq's massive electricity shortage

Iraq’s estimated demand for electricity is about 24 gigawatts, but currently, it is only able to produce 15 gigawatts.

The landmark agreement between Iraq and the GCCIA is expected to dramatically increase Iraq's supply, providing up to 500 megawatts of electricity to its overstretched grid, local news agency Kurdistan 24 reported

According to the agreement, in order to supply the electricity to Iraq, the GCC will finance the $220m required to build a 300km (190 mile) transmission line from Kuwait to Iraq’s southern port of Al-Faw, the agency said. 

While the deal was actually penned last September under former Iraqi prime minister Adil Abdul Mahdi on the sidelines of the Iraq Energy Forum in Baghdad, until now there had been little public discourse about the plan. 

Last year, the GCCIA also signed an agreement with Jordan and Egypt to look into the prospects of connecting them to the network.

https://www.middleeasteye.net/news/landmark-deal-connect-iraq-gcc-electric-grid-moves-forward#:~:text=According%20to%20the%20agreement%2C%20in,%2DFaw%2C%20the%20agency%20said.

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