Facts about the (Iraq Basra-Jordan Aqaba) Oil Pipeline Project
The project is a significant development in the region's energy infrastructure. Here are the key facts you need to know:
1. Current Project Scope:
There is no immediate plan to extend the pipeline from Basra to Aqaba. Instead, the project focuses on extending the pipeline to the Anbar-Haditha area in western Iraq.
2. Pipeline Route and Internal Benefits:
The pipeline will traverse several provinces, including Dhi Qar, Muthanna, Karbala, and Diwaniyah. Plans include constructing four giant refineries and storage tanks to ensure emergency oil reserves, prioritizing internal benefits.
3. Development and Cost:
This project, aligned with the Development Road Project from Basra to Turkey, will support the export of oil-related industries such as raw materials and petrochemicals. Initially estimated at $28 billion, the project cost has been reduced to $8.5 billion, with plans ready since 2015.
4. Clarification on Benefits:
Claims by pro-Iranian militia and MPs that Israel could benefit from this project are unfounded. SOMO, the state oil marketing company, handles oil sales and adheres strictly to government procedures.
5. Export Capacity:
Currently, Iraq's sea export capacity is capped at 3 million barrels per day. The Turkish Ceyhan pipeline faces numerous issues, making this new pipeline crucial. It will add an additional 1 million barrels per day to Iraq's export capacity.
6. Long-term Vision:
The Basra-Haditha pipeline is the first phase of a larger project, eventually extending a 1,665-kilometer pipeline to the Jordanian port of Aqaba, with an initial export capacity of one million barrels per day. Moreover, Iraq grants Jordan the right to purchase 150,000 barrels per day at a reduced price.
This project marks a strategic step towards enhancing Iraq's energy infrastructure and export capabilities, ensuring a robust and diversified oil export route for the future.
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