Siemens loses $15 billion Iraq power generation contract to GE

• 6 years ago (2018-10-18)
• David Flin

Gas 431 Middle East 350

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The Financial Times has reported that GE has won a major contract to supply power to Iraq, beating Siemens, following intervention by the US Government. The deal is said to be worth $15 billion.

Siemens had been reported to being close to securing a contract to supply 11 GW of power generation equipment to Iraq. However, near the final stage of the deal, the US Government intervened on behalf of GE. GE is now expected to take a substantial share of the sale.

The US and Iraqi Governments have already signed a non-binding MOU regarding their cooperation on oil and gas production and power generation.