TEHRAN - Tehran and Baghdad have agreed to extend the contract on Iran’s gas exports to Iraq for five years, Shana reported.

The extension of Iran's gas export contract to Iraq for five years was signed on March 27 between Iranian Deputy Oil Minister for Gas Affairs Majid Chegeni and Iraq's Minister of Electricity Ziad Ali Fazel, in Baghdad.

Speaking to the press on the sidelines of the signing ceremony, Chegeni said that Iran has exported about 52 billion cubic meters (bcm) of gas to Iraq worth $15 billion under two gas contracts since 2017.

Iraqi Electricity Minister Ziad Ali Fazel also said that Iraq has signed a five-year natural gas import contract with an Iranian company, noting that his country’s power plants are in dire need of Iranian gas to generate electricity.

He noted that the experience of the past years has shown that Iran is a good economic partner for Iraq and has provided Iraq’s needs in the most difficult conditions.

EF/