Development Road Project Will Transform into an Energy Corridor
The project is aimed to reach an economic size of approximately 80 billion dollars annually by being supported with oil, natural gas, and electricity lines.
Minister of Energy and Natural Resources Alparslan Bayraktar announced that the Development Road Project is not only a trade route, but can also be transformed into a strategic energy corridor with oil and natural gas pipelines.
Energy Dimension of the Project
It is stated that the Development Road Project can be transformed into a strategic energy route by being supported with oil, natural gas, and electricity transmission lines. In this context, transportation to be carried out along the route is projected to create a major economic magnitude.
Production Capacities and Economic Value
Iraq has a production capacity of approximately 4 million barrels per day, while Kuwait has a production capacity of approximately 2 million barrels per day. With the targeted capacity along the route and the addition of Qatari gas, the total economic size is expected to reach 80 billion dollars annually.
Supply Security and Alternative Routes
In this period when alternatives to the Strait of Hormuz are gaining importance, extending the Kirkuk-Ceyhan Oil Pipeline to Basra and increasing its capacity constitute a strong alternative for the Gulf region.
Global Position of Ceyhan
It is aimed for TPAO to play a more active role in fields in Iraq. Along with these steps, the objective is to make Ceyhan a global energy hub.