The Development Road Project extends from the Persian Gulf to Türkiye and Europe via land and railways. While the project is planned to connect Iraq and Türkiye in terms of energy resources, it is also aimed to create an important commercial corridor globally.
Minister Bayraktar, in his evaluation after the visit of Iraqi Oil Minister Basim Muhammed Hudeyir and his delegation to Ankara, said that the energy relations between Turkey and Iraq will be moved to a new and much stronger dimension, and many projects will be implemented for the stability and prosperity of the common geography.
Stating that the Development Road Project should not be considered only as a trade and transportation connection, Bayraktar said, "As Turkey, we are determined to build the Development Road not only as a transportation corridor, but as a strategic 'energy road' supported by oil, natural gas and electricity transmission lines along the route. If the energy infrastructure is developed simultaneously and in an integrated manner, the economic value of the route will increase significantly." he said.
Pointing out that Iraqi oil offers a significant potential in the energy aspect of the project, Bayraktar said that a daily oil transportation capacity of up to 2.5 million barrels can be reached through the route.
Bayraktar stated that Iraq produces approximately 4 million barrels of oil per day and Kuwait has a production capacity of approximately 2 million barrels of oil per day, and noted that it is possible to direct a significant part of the production in the region here.
Pointing out the economic value that will arise if a daily capacity of 2.5 million barrels is reached via the route, Bayraktar said, "If we increase the daily capacity to 2.5 million barrels, which is the production in Iraq. Iraq produces 4 million barrels. Kuwait produces 2 million barrels of oil per day. So, if we can put 50 percent or 40 percent of it on this route, its economic value reaches approximately 65-70 billion dollars a year." he said.
THE DEVELOPMENT ROAD HAS THE POTENTIAL TO CARRY NATURAL GAS
Bayraktar stated that the Development Road also carries significant potential in terms of natural gas, and that Qatar's gas exports, in particular, may be brought to Europe through alternative routes.
Reminding that Qatar is the most important natural gas exporter of the Gulf, Bayraktar said that the country's gas exports are largely carried out by LNG tankers.
Bayraktar pointed out that Qatar needs the Strait of Hormuz for natural gas exports and stated that turning the Development Road into an "energy road" could create an alternative route for Qatar gas. Minister Bayraktar continued as follows:
"If you add a project such as Qatar gas coming to Türkiye through Iraq, especially with this Development Path, and some gas being exported to Europe, this oil and natural gas creates an annual economic size of 80 billion dollars alone. The Development Path will not only be a project that strengthens the trade and transportation connection between Iraq and Turkey, but will also be able to turn into a multi-dimensional energy corridor that includes oil, natural gas and electricity infrastructure."
"CEYHAN CAN BE A GLOBAL ENERGY BASE"
Stating that in this period when supply security in energy has become critical, alternatives to the Strait of Hormuz, one of the important points of natural gas and oil transportation, have gained importance, Bayraktar stated that extending the Kirkuk-Ceyhan Pipeline to Basra and increasing its capacity is important in terms of creating a strong alternative to the Gulf region and the Strait of Hormuz.
In this context, Bayraktar stated that TPAO aims to take an active role in different fields in Iraq as well as the Kirkuk fields, and said, "We will continue to implement concrete projects in close cooperation with the new Iraqi government. We aim to achieve the 1 million barrel crude oil supply target stated by the Iraqi Prime Minister, Mr. Ali ez-Zeydi, and to turn Ceyhan into a global energy base by increasing the trade volume." made his assessment.
