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Did Germany win over America in Iraq's energy? DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Did Germany win over America in Iraq's energy?

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Did Germany win over America in Iraq's energy? Empty Did Germany win over America in Iraq's energy?

Post by RamblerNash on Wed May 08, 2019 11:45 pm

Did Germany win over America in Iraq's energy?

Did Germany win over America in Iraq's energy? A2633b0c83167c0a0314d704a48f1b28_L

Yoman Elissa 05/08/2019 - 23:09

Observers of the latest events in Iraq have confirmed the victory of Berlin-led diplomatic efforts to persuade Baghdad to cooperate with Siemens to rebuild the country's electrical power system, coinciding with US efforts to ensure that General Electric contracts to make Iraq A natural country in electricity generation after 15 years of deterioration of the sector.

Iraq has entered into memorandums of understanding with Siemens AG and US General Electric to relieve embarrassment and pressure on the choice of one of the two companies to resolve the electricity crisis in the country.

In a surprise move, Iraqi Prime Minister Adel Abdul-Mahdi announced the signing of the road map agreement to improve the power grid with Siemens. "Siemens has a good chance of getting the bulk of the orders worth $ 14 billion."

According to the signed agreement, Siemens will rehabilitate and modernize existing plants, expand transmission and distribution networks, and add new and highly efficient capacity generation.

It should be noted that Siemens had presented the roadmap to the Iraqi government during the Kuwait Conference for the Reconstruction of Iraq, which was held in February 2018.

The political and media circles seized the signing of the deal with Siemens as a victory over its fierce rival, "General Electric", although the field is still open to the latter to compete for the remaining contracts, more than those enjoyed by Siemens.

And all the parties to insist on the victory of "Siemens" until he announced Abdul Mahdi on a "huge" project with the US companies ExxonMobil and PetroChina of China, with the largest share of America. The final cost of the project is estimated at $ 53 billion, about four times the cost of the roadmap projects to reform the electric power system.

"Iraq has been able to arrange a deal of satisfaction between the American and German political parties in order to get out of the place of embarrassment in the draft of the road of electricity," Undersecretary of the Ministry of Oil for Distribution Karim Badhab told Basnews.

"The project will return to Iraq with an estimated profit of 400 billion dollars over 30 years," he said, noting that "the project is based on two parts of the first is to strengthen the extraction of oil by pumping sea water in oil wells, and the second related to increase gas production, which the government seeks to supply stations Electricity ".


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