Türkiye remains interested in restarting an oil pipeline with Iraq that has been inactive for two years due to a dispute, a senior Turkish official said on Monday, despite Ankara’s recent efforts to diversify its energy sources.
The oil pipeline, which runs from Iraq’s Kirkuk oil fields to the Turkish port of Ceyhan, was shut down in 2019 due to disagreements between the two countries over revenue sharing and security concerns. However, with the recent change in leadership in Iraq and the improving relations between the two nations, Türkiye is eager to resume the flow of oil through this crucial pipeline.
In a statement to the press, the senior Turkish official expressed Türkiye’s commitment to reviving the pipeline, stating that it would not only benefit the two countries but also contribute to the stability and prosperity of the region.
The pipeline has the capacity to transport around 500,000 barrels of oil per day, making it a significant source of revenue for both Türkiye and Iraq. With the global demand for oil on the rise and the recent surge in oil prices, restarting the pipeline could prove to be a lucrative move for both nations.
Furthermore, the reopening of the pipeline would also have a positive impact on the energy security of Türkiye. Currently, the country heavily relies on imports for its energy needs, and the resumption of the pipeline would provide a more reliable and cost-effective source of oil.
In addition to the economic benefits, the reopening of the pipeline would also strengthen the bilateral relations between Türkiye and Iraq. The two countries have a long history of cooperation, and the revival of this pipeline would be a testament to their strong partnership.
Türkiye’s interest in restarting the pipeline comes at a time when the country is actively seeking to diversify its energy sources. With the global shift towards renewable energy, Türkiye has been investing in alternative sources such as wind and solar power. However, oil remains a crucial component of the country’s energy mix, and the resumption of the pipeline would provide a much-needed boost to its energy sector.
Moreover, the reopening of the pipeline would also have a positive impact on the regional dynamics. As a key player in the Middle East, Türkiye’s efforts to strengthen its ties with Iraq could lead to greater stability in the region. It would also promote trade and economic cooperation between the two countries, creating a win-win situation for both.
The Turkish official also emphasized that the country is willing to work towards finding a mutually beneficial solution to the issues that led to the shutdown of the pipeline. This shows Türkiye’s commitment to resolving any disputes and moving forward with its plans to revive the pipeline.
In conclusion, Türkiye’s interest in restarting the oil pipeline with Iraq is a positive development for both nations. The resumption of the pipeline would bring economic benefits, strengthen bilateral relations, and contribute to the stability of the region. With Türkiye’s determination and willingness to find a solution, we can hope to see the flow of oil through this vital pipeline in the near future.