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Qatar is in talks to get a roughly 30% stake in TotalEnergies’ (NYSE:TTE) energy project organization of $27 billion in Iraq, Reuters reported on Wednesday.
Such an investment through a Persian Gulf state would mark a key victory for Iraqi Prime Minister Mohammed al-Sudani as the government tries to oppose efforts by Western power corporations to leave the country, the report said.
TotalEnergies (TTE) signed an agreement in 2021 to build 4 giant solar, gas, electricity and hydropower allocations in southern Iraq over 25 years, but the allocation has moved forward.
The Iraqi prime minister will travel to Paris on Thursday and meet with French President Macron; According to Reuters, Sudani will also meet with TotalEnergies (TTE) CEO Patrick Pouyanne to try to break the deadlock.
TotalEnergies (TTE) offers even more prospects after 2022 and a favorable outlook for early 2023, writes Cavenagh Research in research recently published in Seeking Alpha.