Turkey To Deliver Iraqi Oil to World Markets

[Hakan]

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Turkey will deliver all Iraqi oil to the world markets, Turkish Minister of Energy and Natural Resources Taner Yildiz said, the Turkish Sabah newspaper reported on March 11.

The supply of Iraqi oil to world markets via Turkey will contribute to the development of the entire region, he said.

Earlier some Iraqi media reported that the central government is to change the oil pumping route of the Kurdish autonomy which must pass through Turkey.

Furthermore, it was reported that new routes of oil pumping could become Iraq-Syria-Lebanon, and Iraq-Jordan-Israel. The Minister of Energy and Natural Resources of Turkey said that if oil is to be supplied to world markets via Syria, implementation of the project will not succeed because the country is unstable at present.

Earlier, Yildiz stated that the new oil pipeline and terminal will be built for transporting oil from northern Iraq to Turkey.

The terminal is planned to be built in the coastal Yumurtalik region of the Adana province. It will be constructed by the Turkish Starpet company and investment in the project will make up $120 million. The volume of oil storage at the Yumurtalik terminal is 300,000 cubic meters.

The minister also said that the received oil will be kept in storage until an agreement with Baghdad is reached.

On January 3, 2014, Yildiz said that crude oil from Iraqi Kurdistan has started flowing via a new pipeline to Turkey, but will not be shipped to European markets without Bagdad's consent.

Turkey to deliver Iraqi oil to world markets - Trend.Az

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[doritos]

Wrong information, most oil is & will continue to be exported through the offshore Basra oil terminal.

 

[xenon54 out]

The maps shows that Turkey is on the way to become a major Energy hub eventhougt we dont have energy reccources.
The importance of Turkey is increasing with the new Russian-European crisis, i think Nabucco pipeline will become more important than ever.
There is also a huge potencial for Nabucco if they lift the sanctions against Iran.

The Nabucco Pipeline.