In Kurdistan-Turkey deal, gas is key
Genel Energy has doubled its recoverable gas reserves – resources which Kurdistan is using to secure Turkey's participation in a strategic energy partnership.
An engineer looks out over gas processing facilities at the Khor Mor field, which is operated by the Emirati companies Crescent Petroleum and Dana Gas, in 2013. (JACOB RUSSELL/Iraq Oil Report/Metrography)
As Iraq's autonomous Kurdistan region tries to establish a reliable export route for its energy resources through Turkey, its most important bargaining chip may not be crude oil, but rather the natural gas being developed by Anglo-Turkish firm Genel Energy.
The company announced Wednesday that resource estimates at its Miran and Bina Bawi fields have doubled. Largely on the strength of that exploration, Kurdistan is now planning to sell Turkey 10 billion cubic meters of gas annually – enough to meet around a quarter of Turkey's current demand, which is rising steeply along with the country's economic growth.
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