Türkiye began negotiations with the Iraq government on the conclusion of a new, more comprehensive agreement on the transportation of Iraqi oil.
According to an anadol correspondent, the purpose of negotiations is to create a mechanism for long -term and large -scale cooperation in the energy sector, covering the strategic vision of both countries.
The future agreement provides for a specific and stable partnership in areas such as oil and natural gas projects, the development of oil and gas fields, investments in petrochemicals and processing, as well as the production and transfer of electricity.
In addition, a multi -level expansion of oil, gas and electricity trade is planned.
A separate topic of discussion will be the distribution of the power of the oil pipeline system, including two pipelines with a total capacity of 1.5 million barrels per day and the Botaş terminal in the Jaikhan port.
– the beginning of a dialogue on a new agreement
oil pipeline “Iraq – Türkiye” was operated on the basis of an agreement signed in 1973 and updated in 2010, and became a symbol of the energy partnership of the two countries.
However, the changed regional conditions, the development of global energy markets and the growing expectations of the parties revealed the limitations of the current format of the agreement and the need for new legal, commercial and structural mechanisms.
On this regard, the day before, in the official messenger of Turkey, a decree of the president was published on the termination of the agreement on the oil pipeline of 1973 from July 27, 2026.
Against this background of this Ankara and Baghdad, a dialogue on the conclusion of a new agreement began to transport Iraqi oil to Turkey and through it – to world markets.