Syria-Iraq oil pipeline takes four years
Iraq and Syria are planning to build a new oil pipeline expected to take four years and cost at least $15 billion, with the goal of exporting oil through Syria and avoiding dependence on the Strait of Hormuz, which could face future blockades. The project aims to boost Iraq's oil export capacity from around 3.6 million barrels per day by developing entirely new infrastructure, along the Kirkuk-Baniyas pipeline route that has been affected by wars. The US support for the project comes as part of a strategy to reduce reliance on the Strait of Hormuz, which previously accounted for about one-fifth of global crude oil exports before tensions escalated. It is anticipated that the new pipeline will have a transport capacity of two million barrels per day, representing a significant increase from the current capacity of 300,000 barrels. The project will take four years to complete and involves technical and financial studies, as well as the removal of old infrastructure and the acquisition of rights to use new land.
Notice: This Is an AI-Generated Summary
Comments (0)