Middle East Policy has been one of the world’s most cited publications on the region since its inception in 1982, and our Breaking Analysis series makes high-quality, diverse analysis available to a broader audience.
Policy Briefs Program
June 21, 2023
On Sunday, June 18, statements revealed that three Qatari companies and Iraq’s National Investment Commission agreed to develop $9.5 billion worth of projects in Iraq. This deal will include the construction of two power plants, costing $2.5 billion, as well as a $7 billion initiative to develop cities, manage hospitals, and build hotels. Regional sources analyze the content and impact of this investment partnership:
Egypt Oil reported on the Qatari-Iraqi memorandum of understanding (MoUs) pertaining to oil and power: “One of the MoUs is for establishing a joint company to build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in both countries, and another MoU is for cooperation to establish a 150,000 barrels per day oil refinery in Iraq.” The third MoU allows the two “to work together to supply Iraq with liquefied gas and to form partnerships with Qatari firms that are experts in constructing gas receiving stations, related storage facilities, and the necessary infrastructure, such as pipelines and power plants.” The fourth established memorandum establishes “cooperation to supply Iraqi crude oil to Qatar’s refineries and storage facilities.”
The agreement plays a critical role in helping Iraq “develop local gas resources to meet electricity demands, especially during the peak summer months,” according to Arab Weekly. As of now, Iraq is “heavily reliant on Iranian gas and electricity imports.” Qatar, however, is “one of the world’s biggest natural gas producers and has extensive experience in building gas infrastructure.”
Zawya noted that, beyond energy, a number of other MoUs were signed. The source reported: “Iraq’s investment commission and Doha-based Estithmar Holding also signed deals worth $7 billion to manage hospitals, develop two ‘new comprehensive cities’ and to build a series of new 5-star hotels totaling 10,000 rooms, a statement issued by Estithmar said.” Esthithmar vice-chairman Ramez Al-Khayyat said that the cities “will include residential complexes, villas, schools, commercial complexes, entertainment centers, and other facilities and services, in addition to all the infrastructure needed to build these cities.”
Qatar News Agency outlined, “Qatari economists and businessmen have confirmed that the opportunities for cooperation and partnership between the private sector in the State of Qatar and Iraq are very great, in light of the great potential enjoyed by the business sector in the two countries and the promising investment opportunities that can be implemented. They added in exclusive statements to Qatar News Agency (QNA) that the opportunities for partnership and cooperation between the private sector in the two countries are great and varied, in light of the desire to establish economic alliances between the two sides that contribute to achieving a qualitative addition and establishing a long-term partnership between the businessmen of the two countries.”
First Vice-President of Qatar Chamber Mohammed bin Ahmed bin Tawar Al Kuwari shared with The Peninsula “that the Iraqi market is one of the promising and important markets in the region, especially after the Iraqi government launched a series of projects in various fields, especially in the field of infrastructure.” Additionally, “he pointed out the possibility of holding business meetings that identify partnership opportunities and form a database that contributes to determining the direction of cooperation, especially by launching a series of projects in energy, infrastructure and others.”
Businessman Mansour Al Mansour echoed this positivity and, according to The Peninsula, said “that the prospects for cooperation and partnership between the private sector in Qatar and Iraq are promising, particularly given the capabilities both sides have. He told QNA that cooperation between the two sides will enable the exchange of experiences in wide sectors, especially since Iraq is currently one of the main investment destinations in the region in light of the availability of investment opportunities in various sectors.”
Though these investments are substantial, Arab News disclosed that “it is unclear how much money either the Qatari companies or Iraq’s investment commission will commit to these projects.”
Middle East Policy has been one of the world’s most cited publications on the region since its inception in 1982, and our Breaking Analysis series makes high-quality, diverse analysis available to a broader audience.
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Policy Briefs Program
June 21, 2023
On Sunday, June 18, statements revealed that three Qatari companies and Iraq’s National Investment Commission agreed to develop $9.5 billion worth of projects in Iraq. This deal will include the construction of two power plants, costing $2.5 billion, as well as a $7 billion initiative to develop cities, manage hospitals, and build hotels. Regional sources analyze the content and impact of this investment partnership:
Egypt Oil reported on the Qatari-Iraqi memorandum of understanding (MoUs) pertaining to oil and power: “One of the MoUs is for establishing a joint company to build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in both countries, and another MoU is for cooperation to establish a 150,000 barrels per day oil refinery in Iraq.” The third MoU allows the two “to work together to supply Iraq with liquefied gas and to form partnerships with Qatari firms that are experts in constructing gas receiving stations, related storage facilities, and the necessary infrastructure, such as pipelines and power plants.” The fourth established memorandum establishes “cooperation to supply Iraqi crude oil to Qatar’s refineries and storage facilities.”
The agreement plays a critical role in helping Iraq “develop local gas resources to meet electricity demands, especially during the peak summer months,” according to Arab Weekly. As of now, Iraq is “heavily reliant on Iranian gas and electricity imports.” Qatar, however, is “one of the world’s biggest natural gas producers and has extensive experience in building gas infrastructure.”
Zawya noted that, beyond energy, a number of other MoUs were signed. The source reported: “Iraq’s investment commission and Doha-based Estithmar Holding also signed deals worth $7 billion to manage hospitals, develop two ‘new comprehensive cities’ and to build a series of new 5-star hotels totaling 10,000 rooms, a statement issued by Estithmar said.” Esthithmar vice-chairman Ramez Al-Khayyat said that the cities “will include residential complexes, villas, schools, commercial complexes, entertainment centers, and other facilities and services, in addition to all the infrastructure needed to build these cities.”
Qatar News Agency outlined, “Qatari economists and businessmen have confirmed that the opportunities for cooperation and partnership between the private sector in the State of Qatar and Iraq are very great, in light of the great potential enjoyed by the business sector in the two countries and the promising investment opportunities that can be implemented. They added in exclusive statements to Qatar News Agency (QNA) that the opportunities for partnership and cooperation between the private sector in the two countries are great and varied, in light of the desire to establish economic alliances between the two sides that contribute to achieving a qualitative addition and establishing a long-term partnership between the businessmen of the two countries.”
First Vice-President of Qatar Chamber Mohammed bin Ahmed bin Tawar Al Kuwari shared with The Peninsula “that the Iraqi market is one of the promising and important markets in the region, especially after the Iraqi government launched a series of projects in various fields, especially in the field of infrastructure.” Additionally, “he pointed out the possibility of holding business meetings that identify partnership opportunities and form a database that contributes to determining the direction of cooperation, especially by launching a series of projects in energy, infrastructure and others.”
Businessman Mansour Al Mansour echoed this positivity and, according to The Peninsula, said “that the prospects for cooperation and partnership between the private sector in Qatar and Iraq are promising, particularly given the capabilities both sides have. He told QNA that cooperation between the two sides will enable the exchange of experiences in wide sectors, especially since Iraq is currently one of the main investment destinations in the region in light of the availability of investment opportunities in various sectors.”
Though these investments are substantial, Arab News disclosed that “it is unclear how much money either the Qatari companies or Iraq’s investment commission will commit to these projects.”