Iraq has potentially huge gas reserves but its failure so far to properly develop them has led to three key problems for itself and the global energy markets. First, it has left the country dependent on neighbouring Iran for up to 40 percent of its energy requirements, which are imported through gas and electricity supplies. This exacerbates the already tight control that Tehran has over Baghdad through its networks of political, economic, and military proxies. Second, these imports from Iran have remained a major source of friction between Iraq and the U.S. for years, deterring many intended investments in the country. Third, it…
