Press Release: EU and Iraq sign a Strategic Energy Partnership Memorandum of Understanding

The European Union and the Republic of Iraq signed on 18 January 2010 in Baghdad, Iraq, a Memorandum of Understanding on a "Strategic Energy Partnership" which provides a political framework for reinforcing energy relations between Iraq and the EU. It also outlines priorities for future cooperation, taking into account the possible role of Iraq as a natural gas supplier for the Southern Corridor and that Iraq has the world's third largest proven petroleum reserves; Iraq could become an energy bridge between the Middle East, the Mediterranean and the EU.