France and Iraq emphasized the diversification of oil and gas export routes in the Middle East during the recent visit of Iraqi Oil Minister Zaki Zidi in Paris. This action is taken in response to the instabilities arising from tensions between the United States and Iran.
Details of Zidi's Trip to France
Zidi made his first trip to Europe since taking office as Oil Minister in May, and he will also travel to Berlin during this trip. In this meeting with French officials, he discussed the current situation in the Middle East and its impacts on the energy market. Recent developments in this region, especially the dominance of Iranian-backed Houthi forces over the Bab al-Mandab Strait and its impact on oil prices, have created new challenges for oil-exporting countries.
Energy and Defense Agreements
In this meeting, the French energy company TotalEnergies signed an agreement for the supply of liquefied natural gas with Iraq, and discussions were held on other energy projects. Patrick Pouyanné, CEO of TotalEnergies, announced the company's readiness to cooperate with Iraq in the fields of oil and energy, stating that the company intends to increase its investments in Iraq from $12 billion to $16 billion.
In addition to energy cooperation, the two countries also focused on strengthening defense cooperation and signed a strategic roadmap for the purchase of French military equipment. This action will help Iraq modernize its armed forces and enhance its governance capabilities.
Furthermore, the French company Harmattan AI signed an agreement with the Iraqi Ministry of Defense regarding automated air defense systems. Several other agreements were also signed in the areas of developmental aid, training, civilian aviation, and electrical infrastructure.
These agreements reflect the serious commitment of both countries to expand cooperation in various fields and emphasize security and stability in the Middle East region. Given the existing challenges, this cooperation could help enhance the economic and security resilience of both countries.
