Saudi Arabia, Iraq Sign Power Grid Deal

Saudi Arabia and Iraq signed a memorandum of understanding (MoU) on Tuesday to link the two countries’ power grids. Saudi Energy Minister Abdulaziz bin Saud Al Saud and Iraq’s acting Electricity Minister Adel Karim signed the MoU via video conference, in the presence of the Iraqi Council of Ministers Secretary-General Hamid al-Ghazi, said Iraq’s Electricity Ministry, in a statement. The agreement aims to share the electricity-generating reserves and exchange electricity between the two countries for emergency use in case of a power cut, the official Saudi Press Agency reported. The Saudi minister said, “The memorandum came as a result of a comprehensive and detailed study of all leading investment opportunities to support the grids of electricity between the two countries.” Al-Ghazi said, “The Iraqi government is interested in establishing this line [interconnection of grids], so it has developed a basic strategy aimed at providing electric power to the Iraqi people and making Iraq a corridor for the energy to other countries.” Karim said that the interconnection project was the first stage toward building a complete power system and easing the chronic power shortages that plague Iraq. The interconnection between the grids should be completed in one and a half to two years.