The Iraqi government is determined to boost power output to 27,000 megawatts in four years, said Electricity Minister Kareem Waheed, and it should invest $3-4 billion annually to meet that target.
Waheed said the target to produce the massive amount of electricity that will meet Iraq’s domestic needs is attainable.
The ministry is known to have missed almost all its previous targets despite billions of dollars of investments.
However, Waheed said the pledge this time was possible to honor because “of the agreement the government has with the Royal Dutch Shell for the storage of liquefied and natural gas in the country.”
The government has signed a contract with the international oil major for the installation of modern facilities in the southern city of Basra to treat and store liquefied gas.
Most of the new power stations Iraq is constructing and wants to build are gas-driven.
Fuel shortages are reported to be one of the major causes of power outages which may last up to 20 hours a day in major cities.
To reach the new power output target, Waheed said, the government should invest $3-4 billion every year.
( Azzaman )