Jordan & Iraq signs a deal to build twin O&G pipeline

12 February 2018

Jordan has approved an agreement with Iraq to build a twin oil and gas pipeline from Iraq’s city of Basra to Aqaba that will help to meet Jordan’s energy needs and generate revenues for both countries.

Source: Google

The 1,680 km (1,044 mile) long twin pipeline will run from Iraq’s Basra on the Persian Gulf to Jordan’s Aqaba port.

The framework agreement is set to be signed between the Iraq Ministry of Oil and Jordan’s Ministry of Energy and Mineral Resources.

Iraq expects to pump 1 million barrels of oil per day (bpd) in addition to 258 million cubic-feet of gas.

Jordan requires 150,000 bpd to meet its energy needs and plans to export the remaining through Aqaba, generating approximately USD 3 B per year in revenues for the country.

Jordan hopes to revive exports to Iraq through the reopening of the crossing, which it calls Karameh.

The International Monetary Fund has said that the prolonged conflicts in Iraq and Syria were weighing on Jordan’s debt ridden economy and that the opening of export routes with Iraq would boost economic growth for both countries.

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