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Iran Reduces Gas Exports to Iraq over Unpaid Bills

Iran has reduced its natural gas exports to neighbor Iraq due to the unpaid bills.

Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks ago, Ahmed Moussa, a spokesman for Iraq’s electricity ministry, said, major international agencies reported.

Tehran had threatened to further reduce the export, to 3 million cubic meters a day, on Sunday.

However, it has not yet proceeded with the move.

Iran took the measure after Iraq fell behind on its gas payments. Iraq owes around $2.7 billion in unpaid bills, Moussa said.

The issue is expected to be discussed by Iranian Energy Minister Reza Ardakanian who will visit Baghdad on Tuesday.

The gas supply cut has gravely affected electricity grid in Baghdad and other major cities. Moussa said power production had dropped by around 7 gigawatts, expecting an increased electricity shortage if the issue is not resolved. Source