Turkey + Iraq to set up oil, nat gas pipeline: Turkey and Iraq have reached a “principal agreement” on proposed pipelines delivering oil and natural gas from Basra to Turkey’s Ceyhan Port, Turkish Energy Minister Alparslan Bayraktar told S&P Insights on Sunday. The pipeline is slated to grant Basra smoother access to Mediterranean Sea ports.

The details: The pipelines will deliver goods from southern Iraq’s Basra northward to Haditha, and then to Silopi, a city on Turkey’s southern border — a route poised to circumvent the semiautonomous Kurdistan region in Iraq. The new infrastructure will connect with the Basra-Haditha pipeline approved by Baghdad at the close of 2024, which was reportedly slated to convey some 2.3 mn bpd of crude. Turkey’s existing Silopi-Ceyhan pipeline requires access to Basra’s resources to reach its target of transporting 1.5 mn bpd, Bayraktar said.

Big picture: The suggested pipelines will be part of the Iraq Development Road, an endeavour to link Iraqi logistics hotspots, like the Grand Faw Port, to Turkey via rail and road. Turkey said last year it would invest USD 17.9 bn in the project.

IN OTHER TRADE UPDATES-

Adnoc inked a 15-year sales and purchase agreement with Japanese firm Mitsui & Co. for the supply of 0.6 mn tons per annum of LNG, Wam reports. The LNG will be supplied from Adnoc’s low-carbon Ruwais LNG project.

Background: Mitsui acquired a 10% stake in the USD 7 bn Ruwais liquefied natural gas (LNG) project in July. Mitsui inked the supply agreement for 0.6 mn tons at the time. Mitsui is also a partner on the UAE’s only LNG export plant on Das Island.

Adnoc is big in Japan: The company is also supplying Japan's Jera with LNG under a USD 450 mn agreement from Adnoc's Das Island liquefaction facility.

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