Excelerate Energy to develop floating LNG terminal in Iraq

Following approval in Baghdad from Iraq’s Prime Minister, Mohammed Shia’ al-Sudani, Iraq’s Deputy Prime Minister and Foreign Minister, Fuad Hussein congratulated Excelerate President and CEO, Steven Kobos, in a meeting on the margins of the 80^th United Nations General Assembly in New York City, US. The U.S. Department of State’s Thomas Lersten, Senior Official to the Office of the Under Secretary for Economic Growth, Energy, and the Environment, attended the meeting and underscored the strategic importance of US LNG to the administration’s energy dominance agenda.

Development of the integrated floating import terminal, which will be led by Excelerate in co-ordination with the Iraqi government, represents a landmark opportunity to enhance Iraq’s energy security and infrastructure. The proposed terminal will enable the importation of LNG to support domestic power generation, help stabilise the national grid, and allow Iraq to diversify from unreliable natural gas supply sources.

“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. I thank Prime Minister Eng. Sudani, Deputy Prime Minister for International Affairs Dr Hussein, Deputy Prime Minister for Energy Affairs, Al-Sawad, and the Council of Ministers for the trust they have placed in Excelerate to develop this LNG terminal.”

Lersten commented: “This terminal opportunity demonstrates US energy leadership and represents a vital step in advancing Iraq’s energy security and reducing its reliance on Iranian pipeline gas. The US is proud to advocate for our companies, and Excelerate Energy’s involvement will bring US private sector in-novation to Iraq and contribute to regional stability while supporting American jobs.”

The award letter is a preliminary step, and development of the terminal remains subject to the successful negotiation and execution of binding commercial agreements. Excelerate is actively engaged with Iraqi authorities to finalise the necessary contracts and ensure timely implementation of this critical energy infrastructure.

Read the article online at: https://www.tanksterminals.com/terminals/02102025/excelerate-energy-to-develop-floating-lng-terminal-in-iraq/