Baghdad (IraqiNews.com) — France is working with Iraq and Jordan on a pipeline project to transport Iraqi oil and gas to European markets, French President Emmanuel Macron said days after Iraqi Prime Minister Ali Falih al-Zaidi visited Paris for discussions on energy and investment.
Macron stated that the initiative was part of attempts to secure an alternate energy supply for Europe, since the Middle East crisis interrupts conventional shipping routes and raises oil and gas costs.
Iraqi official media said that the planned pipeline would take Iraqi energy via Jordan to European markets.
The statement comes after Al-Zaidi’s official visit to France from September 13 to 14, during which he met with Macron at the Élysée Palace.
The two leaders addressed diversifying energy supply pathways in the wake of delays to Iraqi oil shipments and increased pressure on global energy markets.
During the visit, Iraq and TotalEnergies, a French energy giant, agreed to initiate negotiations on further energy projects, including gas supply collaboration.
TotalEnergies is also looking for a share in the multinational consortium implementing the proposed Basra-Baniyas pipeline, which would give Iraqi petroleum an alternative route from southern oilfields to Syria’s Mediterranean coast, circumventing the Strait of Hormuz.
Chevron, TI Capital, and UCC Holdings of Qatar are all members of the partnership.
The projects highlight Iraq’s quickening efforts to diversify export routes after interruptions in the Strait of Hormuz, which revealed the risk of depending mainly on southern marine terminals for petroleum shipments.
Macron said that Middle Eastern turmoil has exacerbated Europe’s energy challenges, making alternative oil and gas suppliers even more crucial.
France is also advocating for more international cooperation on energy stockpiles and supply, while prices stay high.
For Iraq, new pipeline links via Jordan and Syria might give alternate routes to European clients while lessening its vulnerability to outages in the Arabian Gulf.
