Historic Breakthrough: Iraq and Turkey Sign Massive Energy Agreement
Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Ali al-Zaidi have signed a comprehensive energy agreement in Ankara set to reshape regional trade. The deal includes plans for daily oil supplies of up to one million barrels and the development of a major transport artery linking the Persian Gulf to Europe.
As part of the understandings signed in Ankara, Iraq may supply Turkey with up to one million barrels of oil per day. The leaders announced the strengthening of economic and security relations, alongside the promotion of a massive transport artery that will connect the Persian Gulf to Europe.
Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Ali al-Zaidi announced at the Presidential Palace in Ankara the signing of a comprehensive energy agreement expected to change the regional trade map. At the center of the agreement is Baghdad's proposal to flow up to one million barrels of oil to Turkey daily, a move that will significantly reduce Ankara's dependence on imports from other sources.
This move comes following the conclusion of the historic Kirkuk-Ceyhan oil pipeline agreement, and in its place, the countries are formulating a much broader outline. As part of these understandings, Turkey's state-owned oil company will join operations at the oil field in Kirkuk, alongside the British energy giant BP.
'This is a historic step in energy cooperation between the countries. We aspire to see the region known for development and stability, and not for wars and terror,' stated Turkish President Recep Tayyip Erdogan.
Beyond the oil issue, the new partnership places central emphasis on the 'Development Road' infrastructure initiative—a large-scale transport artery intended to connect the Persian Gulf to international markets through the territories of Iraq and Turkey. Iraqi Prime Minister Ali al-Zaidi said:
'Geography naturally gave us two rivers, and now we want a third river, a river of economy.'
Alongside the economic moves, the leaders discussed tightening security coordination in border areas, the fight against terror, as well as cooperation in the fields of water and education. According to reports in Turkish media, the meeting in Ankara was intended to create tight economic and security integration that will provide both countries with a stable foundation and tools to deal with the geopolitical challenges in the Middle East.
