Iraq aims to bolster its economic prospects by facilitating the transportation of both gas and goods to international markets
Iraq, a prominent OPEC oil producer, is contemplating the construction of a gas pipeline connecting to Europe as a component of its multi-billion-dollar project, which also involves the establishment of a rail link to Turkey.
Yunus Al-Kaabi, Director of the General Company for Rail in Iraq, revealed this development, stating that several global companies have expressed keen interest in both the rail and gas line ventures, particularly as the designs for Phase 1 of the rail network have already been finalised.
Iraq’s gas pipeline to Europe
The proposed rail and gas line projects have the potential to extend their reach to Turkmenistan, Kazakhstan, and European destinations. Kaabi stated that in addition to the rail project, there is a proposal to construct a pipeline for transporting Iraqi gas to the European market. Phase 1 designs for this have already been prepared by an Italian firm.
A recent report from the Iraqi Transport Ministry estimated the overall cost of the project, which encompasses the construction of a 1,200-kilometer rail and motorway network from Southern Iraq to the Northern border with Turkey, to be approximately $17 billion.
Iraq aims to bolster its economic prospects by facilitating the transportation of both gas and goods to international markets, potentially ushering in a new era of economic development and connectivity for the nation.
Source : Oil&Gas