Steven Kobos, CEO of Excelerate Energy, met Prime Minister Ali al-Zaidi this week to discuss the company’s contract to build Iraq’s first LNG import terminal at Khor al-Zubair port. MEES is told that the new government has approved an initial payment of $48mn to the Texas-based LNG specialist, with funds expected to be processed soon.
The project was delayed due to the previous government’s failure to make payments during the financial crisis caused by the closure of the Strait of Hormuz (MONDAY, May 15). The payment delays and security risks led Excelerate to instead lease the Arcadia FSRU vessel to Jordan on a temporary basis (MEES, May 8). (CONTINUED – 222 WORDS)
Read this article for free
Gain access to over 60-years of energy analysis and news
-
Delve into the details backed by data
-
Exclusive information from high-level officials
-
Assess future risks and opportunities
