5/2/2008

Shell in talks with TPAO to export Iraqi gas via Turkey

Bloomberg - Royal Dutch Shell Plc is in talks with Turkiye Petrolleri AO, Turkey's state oil company, to build a pipeline to export Iraqi natural gas via Turkey. Shell and Turkiye Petrolleri are working on a memorandum of understanding on the project, to be run by the Turkish Energy Ministry, said Canan Ediboglu, Shell's country chairwoman in Turkey. She said the agreement may be completed "very soon." Turkey has said Iraqi gas could be pumped to European Union states through the planned 5 billion-euro ($7.7 billion) Nabucco gas pipeline, which aims to reduce Europe's reliance on Russian gas by taking fuel from Central Asia, as well as possibly Iran and Egypt.