Page 15 - MEOG Week 01 2021

MEOG NEWS IN BRIEF MEOG

in ending many tensions in the region and
opening up communication channels.
But with more than 34 trillion cubic meters
of gas reserves (the world’s second largest
holder of gas reserves), Iran is in a region
where demand for this valuable and clean fuel
is increasing day by day, and Iran can quench
the thirsty market in the region.
SHANA

SERVICES
August by 400,000 barrels per day (bpd). a few occasions. When authorities started
“OPEC+ strategy to raise production is burning mazut, a dirty unrefined fuel to Aramco and AEC strengthen
successful amid market challenges” the agency generate electricity, it led to heavy pollution in
quoted the minister as saying. cities adding to the popular anger. digital ecosystem
Kuwait’s share of the output increase will be IRAN INTL
27,000 bpd, reaching 2,612,000 bpd in total, Saudi Arabian Oil Company (“Aramco”) and
he said, explaining optimism is also coming Turkmen gas swap Advanced Electronics Company (“AEC”), a
from an increase in industrial activity and a SAMI company, are collaborating to promote
recovery of demand levels. operation launched the localisation of digital businesses in Saudi
REUTERS Arabia.
Turkmenistan gas swap agreement from Iran The two companies have signed a
to Azerbaijan came on stream on Saturday, memorandum of understanding (MoU) to
GAS January 1, 2022. accelerate the Kingdom’s digital ecosystem
The tripartite swap agreement between development.
Drop in Iran’s gas exports Turkmenistan, Iran and Azerbaijan, which efforts to enable Internet of Things (IoT)
The partnership aims to support wider
was signed on the sidelines of the 15th
shuts down Iraqi power summit of the Economic Cooperation technologies, computing and communication,
robotics, drones, and semiconductors that
Organization (ECO), became operational on
plants January 1. According to the deal, Iran will complement the expansion of the digital
ecosystem at large in the Kingdom.
annually deliver 1.5 to 2 billion cubic meters
The Iraqi government says several power of Turkmen gas to Azerbaijan. Aramco has included the Industrial
plants in the country have stopped operations On the day of signing the agreement, Digital Business (IDB) under the industrial
due to a sharp decrease in natural gas imports Iranian Minister of Petroleum Javad Owji investment programme, Aramco Namaat,
from Iran. stated: “By signing this agreement, a step which aims to complement the establishment
Iraqi Electricity Ministry spokesman forward was taken in the energy relations of various digital hubs in Saudi Arabia.
Ahmed Moussa said on Tuesday the reduction between the two countries and this agreement The programme aims to maximise
of gas supplies by Iran has caused widespread will help provide sustainable winter fuel for local content, contribute to GDP growth,
electricity shortages especially in central and the provinces of Khorasan Razavi, North and create new jobs, accelerate digital talent
southern parts of the country. South, Golestan and Semnan.” development, and enhance Aramco’s reliability
According to Moussa, Iran has reduced Activating energy diplomacy and and operational efficiency.
its gas exports to Iraq from 50 million cubic expanding Iran’s cooperation with Ahmad Al Sa’adi, Aramco SVP Technical
meters per day to about 8.5 million, cutting neighbouring countries as part of the plans Services, said: “This partnership aims to help
about 4,000 megawatts from the national grid, of Javad Owji, the 13th administration’s us to develop technologies and local talent as
which now carries only 13,000 megawatts. petroleum minister, has been on the agenda we work with leading technology providers
Iraq, which depends on Iran for about since his early days in September. The result to add value to the company and wider
one third of its electricity, needs about 35,000 is signing of a gas swap contract, which, economy.”
megawatts of power during peak winter although not in large quantities, is an Ziad Al-Musallam, AEC President and
demand, with only about one-third available important step in the eyes of experts. CEO, said: “The cooperation with Aramco
now. Turkmenistan aims access to high seas to is expected to contribute to the efficiency
The reason for the drop is attributed to enter export markets, and Iran is an important and value of the supply chains in the
billions of dollars of unpaid bills by Baghdad, option because it can easily access southern industrial digital businesses, especially at the
due to US banking sanctions against Iran. waters and export its gas, and if that happens engineering, manufacturing, and services
But the drop in Iran’s gas supplies may also be in the future, Iran will also benefit from it. level, across many systems and products used
the result of a recent accident in a pipeline in Undoubtedly, the gas swap agreement will in the ICT, security, and energy sectors.”
Iran that shut down one of the units of South not be the end of the story. If this agreement The programme is designed to
Pars gas field, reducing at least 15 million is managed wisely over time, it will bring drive increased investment, economic
cubic meters of daily production, which Iran valuable achievements to the country in diversification, job creation and workforce
desperately needs. the future. Establishing Iran’s channel with development within the Kingdom.
Last winter, Iran experienced large power Turkmenistan at a time when Tehran is facing ARAMCO
cuts in major cities. Protests broke out on hostile sanctions could be a turning point

Week 01 05•January•2022 www. NEWSBASE .com P15