On Friday evening, Iraq and Saudi Arabia signed an agreement on stable power supply and at reduced prices based on an agreement with the Gulf Interconnection Authority.
This agreement, which was signed on Friday, will create more reasons for the stability of electricity supply and supply to the national grid, especially during high demand seasons.
A second agreement was also signed aimed at providing Iraq with electricity from Saudi Arabia and turning the Iraqi national energy system into an energy transmission hub between the continents of Asia and Europe. The agreement was signed by the Minister of Oil on the Iraqi side and the Minister of Energy on the Saudi side.
These steps come ahead of the Jeddah Security and Development Summit, which kicks off today, Saturday, with Prime Minister Mustafa al-Kazemi at the head of a senior government delegation.
The agreement was signed giving the Minister the authority to manage the Ministry of Energy on the Iraqi side and the Deputy Minister of Energy and Chairman of the Board of Directors of Gulf Interconnection on the Saudi side.