Ankara aims to renew underused pipeline for regional economic gains
(Reuters): The under-utilisation of an oil pipeline between Iraq and Turkey is unfortunate and Ankara wants a "new and vibrant phase" in the matter to benefit both parties and the region, a senior Turkish official told Reuters on Monday.
In a presidential decision published in the Official Gazette earlier on Monday, Ankara said the Turkey-Iraq Crude Oil Pipeline Agreement - agreed by Turkey's government in 1973 and put into effect in 1975 - and all subsequent protocols or memorandums will be halted from July 27, 2026.
The official said the pipeline had the potential to become a "highly active and strategic pipeline for the region", and added Turkey had invested heavily in its maintenance, while repeatedly noting its importance for regional projects like the Development Road - a planned trade route involving Turkey and Iraq.
"A new and vibrant phase for the Iraq-Turkey Pipeline will benefit both countries and the region as a whole," the person said.
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