The Basra–Ceyhan oil pipeline project may become a strategic decision for the energy security of the region against the background of risks in the Strait of Hormuz, the Hurriyet newspaper writes.
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The Basra—Ceyhan pipeline project involves the transportation of oil from Iraq’s southern fields (Basra region) through the country to the Turkish port of Ceyhan on the Mediterranean Sea. It is considered as an alternative to routes through the Strait of Hormuz, which are subject to geopolitical risks.
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“The new pipeline could be a golden opportunity for both Turkey and the global energy market,“ the newspaper notes.
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The head of the International Energy Agency, Fatih Birol, points out that instability in the Strait of Hormuz is forcing the search for alternative oil supply routes.
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According to him, the project of transporting oil from Iraq through Turkey is able to simultaneously solve several tasks: to ensure stable exports for Baghdad, strengthen Ankara’s role as an energy hub and increase Europe’s energy security.
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The expert emphasizes that the implementation of the project will require political coordination between Turkey and Iraq, as well as attracting international financing, including from European countries interested in diversifying supplies.
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The naval forces of the Islamic Revolutionary Guard Corps (IRGC) of Iran have blocked the Strait of Hormuz since Saturday evening, this will last until the complete lifting of the naval blockade by the United States, according to a statement from the IRGC press service.
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On April 13, the US Navy began blocking all maritime traffic entering and exiting Iranian ports on both sides of the Strait of Hormuz, which accounts for about 20% of global oil, petroleum products and LNG supplies. Washington assures that ships not affiliated with Iran can freely travel through the Strait of Hormuz if they did not pay for passage to Tehran. The Iranian authorities have not announced the introduction of fees, but they have talked about such plans.
