US-based Excelerate Energy, a company specializing in LNG regasification, has received a letter of consent from the Iraqi government to build the country’s first floating terminal for liquefied natural gas imports.
The agreement marks a step toward diversifying Iraq’s energy supply, stabilizing its national power system, and reducing reliance on pipeline gas imports. Under the project, Excelerate will lead the development of an integrated floating import terminal in cooperation with Iraqi authorities.
The letter of consent represents only an initial step, with binding commercial agreements still required before construction can begin. Excelerate confirmed it is actively working with Iraqi officials to finalize contracts.
The initiative has been endorsed by Prime Minister Mohammed Shia’ Al-Sudani. Deputy Prime Minister and Foreign Minister Fuad Hussein personally congratulated Excelerate’s President and CEO, Steven Kobos, during a meeting in New York on the sidelines of the UN General Assembly. US State Department representative Thomas Luersten also voiced support, highlighting Washington’s backing of American LNG as part of the regional energy agenda.
“This agreement is a testament to the strategic partnership between Excelerate Energy and the Government of Iraq,” said Kobos. “We are honored to be selected for this vital infrastructure project, and we look forward to working closely with Iraqi leadership on its successful implementation.”
