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| CEO of Total Energy, speaking Syria could serve as a strategic corridor in middle east |
The CEO of Total Energy, speaking from Damascus during French President Macron's visit, asserted that Syria could serve as a strategic corridor for exporting Iraqi oil to the Mediterranean.
Patrick Pouyanné explained that this role is of paramount importance in providing alternative routes for energy exports, especially in light of the tensions and disruption of navigation in the Strait of Hormuz.
On the sidelines of this unprecedented visit, Pouyanné indicated that the current security situation does not yet allow for the launch of operational activities, considering the visit to Damascus a positive step, before the capital witnessed two explosions with explosive devices near the residence of the French president.
He stressed that Syria’s geographical location at the crossroads of the Middle East, and the events taking place in the Strait of Hormuz region in light of the joint American-Israeli war on Iran, enhance the country’s importance as a strategic option for investment and finding alternative routes for transporting oil.
These statements come at a time when Iraq has already begun transporting its oil via tankers through Syrian territory in preparation for exporting it through new routes, while the two countries are discussing the rehabilitation of pipelines that have been out of service for years.
In May of this year, Syria also signed a memorandum of understanding with the American companies Total and ConocoPhillips and Qatar Energy to explore for gas and oil in its territorial waters, although the French company has not yet announced specific projects on the ground, and its current visit aims to network with local authorities.
Speaking about the business environment, Boyanne called for patience and giving the Syrian government enough time to fully establish its control and restore stability after 13 years of conflict.
For his part, during an economic forum that brought together the Syrian president with delegations from major French companies, the Syrian president stressed the need to turn memoranda of understanding into executive contracts with clear timetables, calling for building real and direct partnerships with the local private sector.
