Turkish Energy and Natural Resources Minister Alparslan Bayraktar confirmed today, Friday, that the possibility of restarting the oil pipeline (Kirkuk – Baniyas) between Iraq and Syria does not pose a threat to the Turkish economy or Ankara's economic interests.
The Turkish Anadolu Agency reported Bayraktar as saying that Syria needs massive investments in the energy and mining sectors, noting that his country does not view the reopening of the oil pipeline as a threat to its economic interests.
He added that cooperation in the fields of energy and mining could contribute to supporting peace, prosperity, and stability in Syria and the region, pointing out the possibility of implementing joint offshore exploration projects in the future, according to economic feasibility and geological conditions.
The Turkish minister noted that opportunities for cooperation in oil and gas exploration in Syrian waters remain on the table within future projects.
Iraq and Syria signed a memorandum of understanding on July 17, under U.S. sponsorship, to restart the (Kirkuk – Baniyas) pipeline, allowing the transfer of Iraqi oil through Syrian territory to Mediterranean ports.
This agreement is part of Iraq's efforts to diversify its oil export outlets and reduce reliance on traditional export routes, alongside enhancing economic cooperation with Syria.