Iraq signs Syria pipeline deal, US welcomes the agreement
Shafaq News- Washington
Iraq signed an agreement with Syria to build an oil pipeline and concluded additional deals with US companies, Shafaq News correspondent reported on Friday.
Iraqi Energy Minister Bassem Al-Abadi signed the agreements as part of a package of major economic partnerships announced during the summit.
Before the signing ceremony, US Energy Secretary Chris Wright said the administration of President Donald Trump is pursuing a new approach aimed at transforming the Middle East from a region of conflict into a center for trade and economic cooperation, adding that “expanding investment offers the best path to peace, prosperity, and job creation across the region.”
He also praised Iraqi Prime Minister Ali Al-Zaidi for choosing the United States as his first foreign destination just 60 days after taking office. “The decision reflects Iraq's recognition of the importance of its relationship with Washington.”
Wright stated that strengthening Iraq's energy sector, increasing oil production, and reducing dependence on "hostile neighbors" require US companies to invest capital and transfer technology and expertise to Iraq.
“The agreements signed during the ceremony are not government-to-government accords but major partnerships and investments undertaken by private US companies, he stressed, indicating that the private sector and strategic partnerships “are the path to peace and prosperity in Iraq, the United States, and the wider world."
Later, the US State Department welcomed plans to rehabilitate the Iraq-Syria oil pipeline with an initial capacity of 2 million barrels per day, describing the project as a strategic link between Iraqi oil production and Mediterranean markets.
The department also welcomed the participation of a US-led international consortium that will oversee the project's technical and financial implementation.
Iraq's and Syria's commitment to rehabilitating and operating the pipeline, establishing a legal framework, and engaging constructively with the international consortium would help strengthen regional security and stability through economic prosperity, the department stated, adding that the initiative had become possible under the vision and leadership of President Donald Trump.
Read more: Al-Zaidi's Washington visit links US oil investment to Iraq's September disarmament deadline
