A multi-billion dollar agreement signed with France's TotalEnergies could help resolve Iraq's longstanding electricity crisis, attract international investors and reduce its reliance on gas imports from neighboring Iran, a point of tension with Washington.
The $27 billion agreement signed in Baghdad on Monday after years of negotiation marks the largest foreign investment in Iraq's history. It could even help combat climate change by reducing oil flares, and relieve some of the stress on Iraq's dwindling waterways through a new desalination plant.
