Iraq gravity energy storage project bidding

What is the value of Iraq's gas growth integrated project?

Value of the deal was not disclosed. The developments fall under Iraq’s Gas Growth Integrated Project, which aims to up the country’s power generation capacity and gas production. The French energy giant signed the USD 27-billion contract to begin construction of four energy projects in the country in July 2023.

Will oil projects boost Iraq's oil and gas reserves?

Iraq's Oil Minister Hayan Abdel Ghani said the offered projects will boost the country’s oil and gas reserves. Reuters Iraq Prime Minister Mohammed Shia Al Sudani said his country is committed to “assuring a safe and stable working environment” and to remove “complicated routine and bureaucracy”.

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.

Does Iraq have an integrated national energy strategy?

Since 2012, Iraq had added one-in-every five barrels of global incremental oil supplies, but has failed to implement its own Integrated National Energy Strategy first by disintegrating gas and oil development and second by missing on gas-to-power synergies.

What is ggip & how does it work in Iraq?

Signed in September 2021, the GGIP has for main purpose to enhance the development of Iraq’s natural resources to improve the country’s electricity supply. According to these agreements, TotalEnergies and its partners will invest approximately $10 billion (100% share):

Should Iraq invest in renewables?

Integrating renewables requires a large investment in grids, and Iraq’s transmission and distribution networks are already dilapidated, with electricity dues largely uncollected, giving rise to technical and commercial losses that exceed 50% of generated power. Adding intermittent solar generation will be a novel challenge.