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Investing.com -- Iraq is in advanced talks with Excelerate Energy Inc. to secure its first-ever liquefied natural gas imports as the country works to reduce its dependence on Iranian energy supplies.
The Texas-based company is among several firms that have submitted bids to provide an LNG import ship and secure fuel supplies, according to Ali Salman, acting director general for Iraq’s state-run South Gas Co., which is overseeing the project. When contacted, an Excelerate representative declined to comment on the negotiations.
Iraq’s move toward LNG purchases follows its decision earlier this year to halt electricity imports from neighboring Iran after the United States ended a sanctions waiver that had been ordered by President Donald Trump. The termination of this waiver was intended to increase pressure on Tehran.
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