Iraq Faces Gas Shortage While Seeking New Oil Export Markets

Iraq is grappling with a natural gas shortage while simultaneously exploring new crude oil export markets. In recent weeks, Iraq has made headlines not only due to pressure from OPEC but also because of its struggle to secure natural gas imports. Iraqi Oil Minister Hayyan Abdul Ghani stated on Iraqi television that negotiations are ongoing with several companies to secure two floating storage regasification units (FSRUs) by early June.

These are needed to address a natural gas supply deficit caused by the expiration of a U.S. waiver that previously…