Iraq awards US company contract for floating LNG terminal

U.S. LNG company Excelerate Energy, Inc. (NYSE: EE) has received an official award from the Iraqi government to develop an integrated floating liquefied natural gas (LNG) import terminal, a key step in the country’s energy diversification plans.

The announcement follows approval from Prime Minister Mohammed Shia’ al-Sudani, Caliber.Az reports, citing the company.

Deputy Prime Minister and Foreign Minister Fuad Hussein congratulated Excelerate’s President and CEO Steven Kobos during a meeting on the sidelines of the 80th United Nations General Assembly in New York. 

The meeting was also attended by Thomas Lersten of the U.S. State Department, who highlighted the strategic importance of U.S. LNG for regional energy security.

The proposed terminal aims to enhance Iraq’s domestic power generation, stabilise the national grid, and reduce dependence on unreliable gas supply sources. Kobos described the project as a “landmark opportunity” and praised the Iraqi government for its trust in Excelerate’s expertise.

A U.S. State Department official noted that the initiative underscores American energy leadership and could strengthen regional stability while supporting U.S. jobs.

The award is an initial step, with the project’s full development contingent on finalising binding commercial agreements between Excelerate and Iraqi authorities.

Excelerate Energy, based in The Woodlands, Texas, provides LNG solutions from supply to power generation and operates in multiple countries worldwide.

By Aghakazim Guliyev