Ankara: Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, announced that his country has proposed a new mechanism to the Iraqi side to ensure the full utilization of the oil pipeline between Turkey and Iraq.

According to National Iraqi News Agency, Bayraktar recently discussed this issue with Iraq's Oil Minister, Hayan Abdul Ghani, during their meeting after the OPEC meeting in Vienna. He highlighted Turkey's investments to maintain the operation of the pipeline, which has a capacity of approximately 1.5 million barrels per day but is currently not in use. Even previously, the pipeline was not operating at full capacity.

The Turkish Minister confirmed that the new draft agreement between Ankara and Baghdad emphasizes the necessity of a mechanism to ensure the pipeline's full capacity utilization. The text of this proposal was sent from Ankara to Baghdad.

Bayraktar further explained that Turkey's proposed mechanism includes options such as extending the pipeline to southern Iraq to access these proposed quantities. Turkish sources revealed that negotiations between Ankara and Baghdad have commenced for a more comprehensive agreement for the transport of Iraqi oil.

In alignment with this, a Turkish presidential decree published in the Official Gazette on July 21 announced that the Turkey-Iraq crude oil pipeline agreement, effective since 1973, will expire on July 27, 2026.

The Iraq-Turkey crude oil pipeline, initially established through agreements in 1973 and renewed in 2010, has been a symbol of energy cooperation between the two nations. However, shifting regional conditions, evolving energy markets, and the rising expectations of both countries have highlighted the need for new commercial, legal, and structural arrangements to meet contemporary demands.