Iraq-Türkiye pipeline will be operational again in a week
The Minister of Energy and Natural Resources, Alparslan Bayraktar, announced that he will put the Iraq-Turkey oil pipeline into operation this week.
Minister Bayraktar was speaking at the opening session of the Abu Dhabi International Petroleum Conference and Fair, held in the capital of the United Arab Emirates (UAE).
STREAMING WILL START AGAIN
Regarding the Iraq-Turkey pipeline, Bayraktar said: “The Iraq-Turkey pipeline is ready for operation starting today. We will put the line into operation this week. “Once the pipeline comes into operation, 500,000 barrels of oil can be supplied to global oil markets.” he said.
After the arbitration decision of the International Chamber of Commerce (ICC) condemned Turkey to pay $1.5 billion in compensation to the Iraqi government for unauthorized oil exports made directly by the Iraqi Kurdish Regional Government (KRG) to Turkey between 2014 and 2018, Turkey 25 Stopped the flow of oil from northern Iraq in March.
Stating that Turkey has long been a reliable route for oil and natural gas, Bayraktar said that as of today, 2 million barrels of oil per day pass through the Turkish Strait and that the Iraq-Turkey pipeline , which has been active for about 45 years, has a capacity of 500 thousand barrels of oil per day. He pointed out yes.
TANAP DECLARATION
Stating that Turkey has sent a significant amount of gas to Europe through the Trans-Anatolian Gas Pipeline Project (TANAP), Bayraktar said: “As of today, we are sending gas to Hungary, Bulgaria, Romania and Moldova through the Trans-Anatolian Gas Pipeline. Western Balkans. . “We are becoming more and more of a natural gas hub.” he said.
Bayraktar also explained that Turkey, which aims to reduce its dependence on foreign energy, is focusing on investments in oil, gas and renewable energy and sees investments in nuclear energy as an important tool to reduce carbon emissions.
Minister Bayraktar is expected to meet with UAE government officials and senior executives of the world’s leading energy companies at the forum. (AA, REUTERS)