TotalEnergies Seeks Stake in $15B Iraq-to-Mediterranean Pipeline Project
French energy giant TotalEnergies is pursuing a 10% stake in an international consortium planning to construct a $15 billion pipeline designed to transport Iraqi crude to the Mediterranean Sea, Chief Executive Patrick Pouyanne confirmed.
The proposed Basra-Baniyas pipeline would link Iraq's southern oilfields in Basra to the Syrian port of Baniyas, establishing a crucial alternative route to Europe and beyond.
The initiative comes as Baghdad searches for export alternatives following Iran’s closure of the Strait of Hormuz earlier this year, which disrupted Persian Gulf shipping in the wake of a joint U.S.-Israeli strike.
"Total is in active discussion for a stake in the consortium," Pouyanne said at the Élysée Palace in Paris during an official visit by Iraqi Prime Minister Ali Al Zaidi.
The energy chief emphasized the strategic imperative of establishing routes that bypass vulnerable regional chokepoints.
TotalEnergies plans to join a corporate coalition that includes U.S. major Chevron, Qatari-Syrian company UCC Holding, and U.S. investment firm TI Capital.
Meanwhile, final negotiations regarding the consortium's ownership structure remain ongoing.
According to industry experts, the pipeline will cost $15 billion and require at least four years to complete.
The project's security remains a key focus, underlined by recent drone strikes originating from Iraq that targeted Saudi pipeline infrastructure.
The project revives historical trade routes. In the 1950s, Iraq Petroleum Company — in which TotalEnergies' predecessor, Compagnie Française des Pétroles, held a stake — constructed a pipeline connecting Kirkuk to Baniyas.
Though now in disrepair, the original line held a capacity of 300,000 barrels per day.
The Iraqi pipeline talks coincide with broader bilateral efforts between Paris and Baghdad, in which TotalEnergies signed a preliminary deal with Iraq's Ministry of Electricity to strengthen the nation's liquefied natural gas supply.
Additionally, both governments issued a joint statement Monday confirming agreed discussions on energy development alongside a new strategic roadmap.
Under the agreement, Iraq and France established a framework for future acquisitions of French military equipment by Iraqi armed forces, alongside bilateral accords covering defense, data infrastructure, and civil aviation.