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Iraq approves principles of cooperation framework with Siemens Energy
Published by Global Banking and Finance Review
Posted on August 26, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on August 26, 2025
2 min readLast updated: January 22, 2026
Iraq's Cabinet has approved an energy cooperation framework with Siemens Energy to improve its power infrastructure, addressing ongoing electricity shortages.
CAIRO (Reuters) -The Iraqi Cabinet approved on Tuesday the principles of an energy cooperation framework with Germany's Siemens Energy, according to a statement.
The statement did not provide further details.
The German company has already been involved in electricity projects in Iraq, including the award in 2023 of long-term service contracts for three power plants in Iraq as part of broader energy cooperation. In the same year, Siemens also signed a deal to develop Iraq's power network.
Iraq, which is heavily dependent on Iranian natural gas imports to generate power, has often suffered from electricity shortages that worsen during summer heat.
Earlier this month, a power outage hit the central and southern regions of the country after a sudden shutdown at the Hamidiya power plant led to a fault in the electricity transmission network, electricity ministry sources said.
Iraq in the past two years has also signed agreements with oil majors that had previously retreated from the country, including Chevron, France's TotalEnergies and UK oil major BP.
(Reporting by Jaidaa Taha and Menna Alaa El-Din; Editing by Jan Harvey)
The Iraqi Cabinet approved the principles of an energy cooperation framework with Siemens Energy.
Siemens Energy has been involved in electricity projects in Iraq, including long-term service contracts for three power plants awarded in 2023.
Iraq is heavily dependent on Iranian natural gas imports to generate power, which contributes to frequent electricity shortages, especially during the summer.
A power outage occurred in the central and southern regions of Iraq due to a sudden shutdown at the Hamidiya power plant, leading to a fault in the electricity transmission network.
Iraq has signed agreements with several oil majors, including Chevron, TotalEnergies, and BP, which had previously retreated from the country.
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