Iran and Iraq have extended the gas exporting contract to Iraq for more five years on Wednesday.
The contract extension was signed by Majid Chegeni, Managing Director of National Iranian Gas Company (NIGC) and Ziyad Ali Fazel, Iraq’s Minister of Electricity, in Baghdad.
According to the contract, the gas volume shall be up to 50 million cubic meters per day according to the needs of Iraqi power stations.
The Iraq’s Ministry of Electricity said the deal would ensure the sustainability of the work of power plants and keep pace with the peak loads and the increasing demand for electric energy.