Turkish Minister of Energy and Natural Resources Alparslan Bayraktar announced that the Iraqi-Turkish oil pipeline, which was damaged by the February 6 earthquake, is ready and will resume work this week.
This came during his speech at the opening session of the “Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023,” held in the capital of the United Arab Emirates on Monday.
Bayraktar explained that Turkey has long been a reliable route for oil and natural gas, noting that two million barrels of oil pass daily through the Turkish straits currently.
He added that the Iraqi-Turkish oil pipeline, which has been active for about 45 years, has a daily capacity of 500,000 barrels of oil.
He pointed out that once the Iraqi-Turkish pipeline is operational, it will be possible to supply 500,000 barrels of oil to global markets.
Bayraktar stated that Turkey ships large quantities of gas to Europe through the Trans-Anatolian Natural Gas Pipeline (TANAP).
He continued, “We currently send gas to Hungary, Bulgaria, Romania and Moldova via the Western Balkans pipeline. We have become a natural gas hub.”
Bayraktar explained that Turkey, which aims to reduce its dependence on abroad in the field of energy, is focusing on investments in oil, gas and renewable energy and believes that nuclear energy investments are an important tool for reducing carbon emissions.
Minister Bayraktar is expected to meet with government officials in the UAE and senior executives of the world’s leading energy companies on the sidelines of the exhibition.