Today's Zaman: Turkey and hydrocarbons in Iraq

Turkey's energy policy on hydrocarbons, crucial for the fueling of a growing Turkish economy, was given a facelift a few years back with the expectation of Iraq coming back to the oil and possibly gas market. Therefore, Turkey hedged its bets according to good neighborly ties with the Baghdad government and played a key role in bringing about political stability in the country by convincing Sunnis to engage in the political process.

At a time when many international partners of Iraq were shying away from Baghdad and the southern provinces due to huge security and safety concerns, Turkish Prime Minister Recep Tayyip Erdoğan led a delegation of businessmen and eight ministers to Baghdad where Turkey signed 48 agreements promising cooperation on trade, oil and gas, transportation, infrastructure, health care, terrorism and much more. The visit, held in October 2009, laid the legal framework for Turkish companies to enter into Iraq and help build the war-ravaged country from scratch.  MORE