Iraq plans to soon begin construction of a new oil pipeline to Syria and Turkey to reduce its dependence on shipments through the Strait of Hormuz. Iraqi oil ministry spokesman Salim al-Rikabi announced the plan, according to RIA Novosti.
Al-Rikabi said the project involves the Basra-Haditha pipeline, which will later be extended to the Turkish port of Ceyhan and the Syrian port of Baniyas. He said the project would let one of the world's largest oil exporters diversify its shipping routes.
Turkey Deal Sets Minimum Volume
Iraqi and Turkish representatives signed an agreement in early August on transporting and transshipping Iraqi crude via the pipeline to Ceyhan. The two sides set a minimum throughput of 750,000 barrels per day.
Before the war in Iran, a large share of Iraq's oil exports moved through the Strait of Hormuz, and the blockage of that key Middle East logistics route hurt Baghdad's export revenue. The alternative route is expected to let Iraq redirect flows along a safer path. The United Arab Emirates has separately said it wants to speed up the launch of its West-East pipeline to reduce risks tied to the war in Iran.
