Bayraktar: A New LNG Agreement with the U.S. is Possible

Following a cabinet meeting, Minister of Energy and Natural Resources Alparslan Bayraktar responded to journalists’ questions on several current issues.

Bayraktar stated that there is currently no flow through the Turkey-Iraq Crude Oil Pipeline, noting:

“This pipeline has a capacity of nearly 1.5 million barrels per day. At the moment, there is no flow, as you know. Even when operational, it was never used at full capacity. Over the years, we have made significant investments to keep this line operational.

I also conveyed this to Iraq’s Oil Minister Hayyan Abdulghani during the recent OPEC meeting. We emphasized that the new draft agreement should include a mechanism to ensure the full utilization of this pipeline.”

Bayraktar also said that extending the Turkey-Iraq pipeline further south is among the options being considered.

"No Issues Meeting Electricity Demand"

Touching on recent records in electricity consumption, the minister reassured that demand has been met without any major problems.

“We had to shut down some power plants that were at risk from nearby wildfires. This caused a few hours of disruption, but no significant issues arose. There was a fire approaching the plant in Bandırma, but aside from that, everything remained under control,” he said.

Bayraktar also addressed his recent meeting with U.S. Ambassador to Ankara and Syria Envoy Tom Barrack, stating that topics included joint oil and gas exploration, as well as small modular reactors (SMRs) for nuclear energy.

When asked whether a new LNG agreement might be on the horizon, Bayraktar responded:

“Long-term LNG contracts are still important and remain ongoing. These are matters that can materialize rather quickly. So yes, we may see a new LNG deal.”