PM's speech inside

Sudani highlights development projects at Russian energy forum

BAGHDAD, October 11 — Prime Minister Mohammed Shiaa’ Al-Sudani spoke on Wednesday about the Grand Faw Port project and its importance in enhancing Iraq’s economy, describing the Development Road as an “unprecedented project.”

Al-Sudani’s statements came during a speech at the Russian Energy Week Forum. A trascript of his speech was provided to 964:

Today, we participate on behalf of Iraq in the Russian Energy Week Forum.

Cooperation in the energy sector is one of the steps that will provide prosperity and progress.

Iraq seeks to diversify its energy sources and not rely solely on oil for its economy.

Our government has set its sights on the global energy transition represented by carbon reduction projects.

We have started implementing carbon reduction projects financed by carbon bonds for gas projects in the East Baghdad field.

Oil-producing countries can play an important role in improving energy efficiency.

Iraq has made progress in the field of renewable energy. We have set a clear goal to cover a third of the local electricity demand through the use of renewable sources by 2030.

We continue to upgrade fossil fuel extraction technologies.

We are working for Iraq to take its place in the economic market.

Our government’s vision relies on an approach in the energy sector.

Successive regimes in Iraq have not invested in gas and have resorted to burning it. Iraq emphasizes the importance of gas investment through the fifth and sixth licensing rounds.

The opportunity is now favorable to achieve success together in creating motivating factors for peace.

There is a need to diversify energy sources and transportation methods to reduce risks.

Our resource-rich region needs economic integration.

The Development Road is an unprecedented project in Iraq and the region, and we have set it in motion.

We affirm our commitment to creating a practical and promising cooperation between the region’s countries and the world through the development project.

Our region has become a platform where interests, development desires, and employment opportunities converge.

Iraq has taken a tremendous step on the path of enhancing cooperation with others and among them.

We are in urgent need of joint coordination to achieve balance in the energy market.