IEA to prepare in-depth energy outlook of Iraq

The International Energy Agency (IEA) will undertake a comprehensive analytical study of Iraq as part of the 2012 edition of its flagship publication, the World Energy Outlook (WEO).

“Iraq’s energy sector is both central to the reconstruction and development of the Iraqi economy and of huge importance to the global outlook,” said IEA Executive Director Maria van der Hoeven. “The focus on Iraq in this year’s World Energy Outlook will illuminate a central issue for the future of global energy, and we are very pleased to be working with the strong support of the Deputy Prime Minister of Iraq, Dr. al-Shahristani, and in cooperation with the Iraqi authorities.”

Speaking to the IEA Governing Board on 15 February, the Ambassador of Iraq to France, H.E. Dr. Fareed Yasseen, outlined Iraq’s expectations for the IEA work. “Iraq has some pressing short-term challenges, but we also recognise the need to have a robust longer-term vision for our energy sector. We hope that the analysis in the World Energy Outlook can contribute to this process, providing perspectives and insights that will help us as we pursue strong social and economic development and our place as a major, dependable oil and gas exporter.”

The 2012 World Energy Outlook will analyse the role of the energy sector in the Iraqi economy and trends in domestic energy demand, with a particular emphasis on the electricity and transportation sectors and domestic market structures. It will address the supply outlook and investment needs, both in power generation, transmission and distribution as well as in hydrocarbon development. It will look at the implications of Iraqi energy developments for the environment and water use, and the impacts on global energy supply and security.

According to the WEO-2011 central scenario, Iraq is set to provide the largest increase in global oil production between today and 2035, adding more than 5 million barrels per day of supply over this period. “Our aim, working with the Iraqi authorities, is to provide an in-depth outlook for the Iraqi energy sector and its role in satisfying the country’s needs and in meeting global energy demand,” commented IEA Chief Economist Fatih Birol, who will lead the study.

The IEA’s Iraq study will be released in early October and will also be included in the full World Energy Outlook, to be launched on 12 November. The World Energy Outlook aims to provide a rigorous analytical framework for energy policy makers and the energy industry, based on robust quantitative analysis.