Turkey to welcome Iraqi oil in new year

Iraq's Kurdish Autonomy will start oil exports to Turkey in January, 2014, spokesperson for the Kurdish Autonomy in Northern Iraq Sevin Diyazi said, Sabah newspaper reported on Dec.16.

Diyazi said that test engineering work is now underway for starting oil supply consignments to Turkey.

As it was reported earlier Iraqi Kurdistan will start gas exports to Turkey in late 2016. The initial volumes of gas delivered to Turkey will amount to 20 billion cubic meters per year.

It was earlier reported that the Minister of Natural Resources of Iraq's Kurdish Autonomous Region, Ashti Hawrami said Arbil plans to export gas to Turkey.

It was also reported that the price of gas from Iraq's Kurdish autonomous region will be equal to the half of the price of the Russian gas exports to Turkey.

According to the minister, a new company will be created with the participation of the Turkish private sector and foreign investors to work at the fields in Iraq's Kurdish Autonomy.

Turkish Minister of Energy and Natural Resources Taner Yildiz also said earlier that a new oil pipeline will be constructed for oil supplies from northern Iraq to Turkey. Ankara is ready to buy Iraqi oil, which is delivered by this country to the world markets.


/Trend/