Iraq and Turkey to build gaspipeline

May 26, 1997 02:00 AM

May 12, 1997 Turkish Minister of Energy and Natural Resources Recai Kutan in Baghdad signed an agreement on a pipeline project with Iraq. The INA (Iraqi News Agency) said Kutan and Iraqi Oil Minister Amir Mohammed Rashid signed the agreement to build a 1,300-km-long pipeline to take Iraqi natural gas to the Turkish port of Ceyhan on the Mediterranean Sea. The pipeline, which will cost about $ 2.5 billion, has an annual capacity of 10 bn cm.
At the signing ceremony, Rashid said that the two sides have agreed on the formulation of implementation procedures and that besides Iraqi and Turkish companies, several foreign companies will also join in the project.
Recently, the Turkish minister declared that Turkey is trying to buy from Iraq 8 billion tonnes of crude oil and 3 bn cm of natural gas. Turkey is going to be one of the biggest markets of Iraqi crude oil and natural gas, said Kutan, adding that Ankara intends to reactivate trade ties with Iraq which were interrupted in 1990.

Iraq, whose proven and probable oil reserves separately stand at 112 billion and 214 billion barrels, was Turkey's top crude oil supplier and the third largest trade partner before the United Nations imposed the economic sanctions on Iraq following its 1990 invasion of Kuwait.

Source: not available
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