A drone view shows the Zubair Oil Field in Basra, Iraq, April 6, 2026. REUTERS\/Mohammed Aty<\/p>\n
IEA Head Pitches Iraq-Turkey Pipeline To Bypass Hormuz<\/p>\n
Apr 19, 2026 (Bloomberg) \u2013International Energy Agency Executive Director Fatih Birol proposed building a new oil pipeline linking Iraq\u2019s Basra oil fields and Turkey\u2019s Mediterranean oil terminal in Ceyhan to shift the balance away from the<\/p>\n
, according to Turkish newspaper H\u00fcrriyet.<\/p>\n
\u201cI believe a Basra\u2013Ceyhan<\/p>\n
pipeline could be extremely attractive<\/p>\n
and a very important project for both Iraq and Turkey, as well as for regional supply security\u2014especially from Europe\u2019s perspective,\u201d Birol said in an interview with H\u00fcrriyet, published on Sunday. \u201cI also believe the financing issue can be overcome. Now is exactly the right time.\u201d<\/p>\n
Iran on Saturday reimposed<\/p>\n
restrictions on vessel traffic in the Strait of Hormuz<\/p>\n
, less than 24 hours after Tehran declared the waterway open to commercial ships. Several liquefied natural gas tankers reversed course while en route there after Iran warned ship captains that the vital channel was once again closed to maritime traffic.<\/p>\n
U.S. Turns Back Ten Ships as Iran Port Blockade Holds, Tankers Test Limits<\/p>\n
Iraq relies on Hormuz to export oil from the Gulf port of Basra, which holds one of the world\u2019s largest reserves at around 90 billion barrels and accounts for about 90% of the country\u2019s oil exports, Birol told the newspaper.<\/p>\n
\u201cThe vase has been broken once, and it\u2019s very difficult to fix,\u201d Birol said, referring to the<\/p>\n
. A new oil pipeline \u201cis a necessity for Iraq and an opportunity for Turkey. It is also a major opportunity for Europe in terms of supply security. I think this should be considered a strategic project.\u201d<\/p>\n
need to reach a political agreement, \u201cwhich I believe is achievable,\u201d he said, adding that securing financing for the project could also receive support from Europe.<\/p>\n
Turkey has already proposed extending a<\/p>\n
pipeline between Ceyhan and the Kirkuk oil fields in the north to the south as part of efforts to build a multi-billion dollar\u00a0trade route\u00a0that would stretch from the Faw Port in Iraq\u2019s southern province of Basra to Turkey in the north. Separately, Turkey, Syria and Jordan recently\u00a0agreed to modernize\u00a0their railway and highway systems with the aim of eventually creating a contiguous corridor between southern Europe and the Persian Gulf.<\/p>\n
Turkey has emerged as a more viable option after the Israel\u2013Hamas\u00a0war stalled progress\u00a0on the India\u2013Middle East\u2013Europe Economic Corridor, a US-backed project to build rail links across the Arabian Peninsula. With Houthi attacks disrupting<\/p>\n
shipping and regional instability rising, the IMEC is effectively on hold.<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg L.P.<\/p>\n