Development Road Project aims to create strategic energy corridor

The Development Road Project aims to establish a strategic energy and trade corridor connecting the Persian Gulf to Turkey and Europe via land and rail. Following a visit to Ankara by Iraqi Oil Minister Basim Muhammed Hudayir, Turkish Energy and Natural Resources Minister Alparslan Bayraktar emphasized that the initiative is intended to be more than a transport link, functioning as a strategic ‘energy road’ integrated with oil, natural gas, and electricity transmission lines.

Minister Bayraktar noted that the route could reach a capacity of transporting up to 2.5 million barrels of oil per day. Given that Iraq produces approximately 4 million barrels daily and Kuwait produces about 2 million, a significant portion of regional production could be diverted to this corridor. The economic value of such a capacity is estimated to be between $65 billion and $80 billion annually.