Birol: Basra - Ceyhan Oil Pipeline Could Become an Alternative to the Strait of Hormuz

The Basra-Ceyhan oil pipeline project could become a strategic alternative to the Strait of Hormuz, which has become vulnerable due to escalating geopolitical tensions surrounding Iran.

As reported by BAKU.WS with reference to Report, this was stated to the newspaper Hürriyet by the head of the International Energy Agency (IEA) Fatih Birol.

He points out that the unstable situation in the Strait of Hormuz area is forcing market participants to seek alternative routes for oil delivery. In his opinion, the Iraqi-Turkish project is capable of simultaneously guaranteeing Baghdad a stable export channel, strengthening Ankara's position as an energy hub, and bolstering the energy security of European countries.

"After the war ends, the Middle East will no longer be the same. Serious changes will occur in the politics, economy, and security of the region. People will start looking for alternatives to the Strait of Hormuz. I think the Basra-Ceyhan oil pipeline could become an extremely attractive project of paramount importance for Iraq, Turkey, regional energy security, and especially for Europe," he said.

Birol noted that the field in the province of Basra in southern Iraq is considered one of the largest in the world, with oil reserves of 90 billion cubic meters.

The project to build an oil pipeline from Basra to Turkey is being considered in the context of the logistics project "Development Road" to connect Iraq's oil fields with the Turkish Mediterranean port of Ceyhan for oil exports bypassing the Strait of Hormuz. According to estimates, it could transport up to 1.5 million barrels of oil per day.