Excelerate Energy has announced that it has received an official Award Letter from the Government of Iraq to develop an integrated floating LNG import terminal.
The proposed facility will enable LNG imports to support domestic power generation and contribute to the stabilization of the national electricity grid.The Award Letter represents an initial step in the project’s development. Progress remains contingent on the successful negotiation and execution of binding commercial agreements.
Meanwhile, Iraq’s Oil Minister has stated that the country aims to increase daily oil production from 4.4 mbl to 5.5 mbl by the end of 2025, underscoring the role of 28 U.S. companies currently operating in Iraq’s oil sector.
In early September 2025, France’s TotalEnergies announced the launch of the second development phase at Iraq’s Ratawi oilfield. The initial phase, launched in late 2023, aims to raise production to 120 kb/d by early 2026, while the newly initiated second phase targets a further increase to 210 kb/d by 2028.