IEA head proposed Basra-Ceyhan pipeline bypassing Strait of Hormuz
Kyiv • UNN
Fatih Birol proposed a new route for oil exports from Iraq to Turkey. The project is intended to strengthen Europe's energy security and reduce logistical risks.
Fatih Birol, Executive Director of the International Energy Agency, proposed creating a new oil pipeline between Iraq and Turkey to reduce dependence on the Strait of Hormuz. This was reported by Hürriyet, writes UNN.
Details
This refers to a pipeline project between the Basra oil fields and the Turkish terminal in Ceyhan on the Mediterranean Sea.
The idea emerged against the backdrop of the escalating situation around the Strait of Hormuz, where Iran has again restricted shipping. Because of this, tankers with liquefied gas are forced to change routes.
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According to Birol, Iraq is largely dependent on this route – about 90% of the country's oil exports pass through it.
I believe that the Basra-Ceyhan pipeline can be an extremely attractive and very important project for both Iraq and Turkey.
Significance for the region
Birol emphasized that the new route could enhance energy security, particularly for Europe.
This is a necessity for Iraq and an opportunity for Turkey. It is also a great opportunity for Europe in terms of security of supply.
The project requires a political agreement between Iraq and Turkey, as well as funding, which, according to Birol, can be secured with the support of international partners.
Against the backdrop of regional instability and risks to maritime routes, the new pipeline is seen as a strategic alternative to energy transportation.