Turkey's EM: We do not need Iraqi oil for now
Tuesday, May 13, 2014
ISTANBUL – TUPRAS, Turkey's sole oil refinery company, is not in need of Iraqi oil at present, said Turkey’s Energy Minister Taner Yildiz Tuesday.
During his press conference at the “Regional Conference on Scaling up Sustainable Energy Solutions,” in Istanbul, Yildiz said 2.5 million barrels of Iraqi oil, which flow via the Kirkuk–Ceyhan Oil Pipeline, are stored in Turkey’s port of Ceyhan.
He confirmed that Turkey wants to transport this oil to other markets, rather then buy it, because Turkish Petroleum Refineries Corporation (TUPRAS) has a sufficient supply at the moment.
Turkey, which imports most of its energy, has major ongoing oil and natural gas deals with the northern Iraqi administration in a three-way partnership that also includes the central Iraqi government.
Yildiz told journalists that the recent decision of the European Court of Human Rights in finding Turkey guilty of violating European human rights agreements during and after Turkey's peace operation on the island of Cyprus in 1974 would impact on energy cooperation in the region.
Turkey expects to be a transit country for the natural gas reserves discovered off the shores of Cyprus, which may provide a new catalyst for the Cyprus peace talks.
“I strongly hope that these decisions do not have heavy political effects on these talks. All sides must be careful that politics do not become a burden on energy collaborations,” said Yildiz.
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