Excelerate Energy has received an award letter from Iraq to develop the country’s first floating LNG import terminal.
The New York-listed regasification specialist said the award represents a step toward diversifying Iraq’s energy supply, stabilising its national grid and reducing reliance on pipeline gas imports.
The project would see Excelerate lead development of an integrated floating import terminal in cooperation with Iraqi authorities.
The award letter is an initial step, and binding commercial agreements still need to be negotiated before the project can move forward. Excelerate said it is actively working with Iraqi authorities to finalise contracts.
The move has the backing of Prime Minister Mohammed Shia’ al-Sudani. Deputy Prime Minister and Foreign Minister Fuad Hussein formally congratulated Excelerate president and CEO Steven Kobos during a meeting in New York, held on the sidelines of the UN General Assembly. US State Department official Thomas Lersten also attended, underscoring Washington’s support for US LNG as part of its regional energy agenda.
“This award is a testament to the strategic partnership between Excelerate Energy and the Government of Iraq,” said Kobos. “We are honoured to be selected for this critical infrastructure project and look forward to working closely with Iraqi leadership to bring it to fruition.”
