Turkey to supply natural gas to Syria after grid connection
'We are going to be able to give gas for power generation to Syria and hopefully to normalize life in Syria,' Bayraktar said during his remarks at the 9th OPEC International Seminar, currently being held in Vienna. 'I think the interconnectivity and infrastructure investment are quite crucial,' he added.
Bayraktar emphasized that Turkey is actively seeking partners to support the project, hinting at a larger regional strategy to leverage energy development for economic and political stabilization in Syria, which has been devastated by over a decade of war.
The ninth OPEC International Seminar runs from July 9–10 in Vienna and gathers major energy stakeholders from across the globe.
OPEC+ is preparing to approve a larger-than-expected increase in oil production next month, signaling a decisive shift away from years of output restraint despite mounting fears of a global oversupply, Bloomberg reported.
According to delegates familiar with the matter, the alliance, led by Saudi Arabia and including Russia, plans to boost output by approximately 550,000 barrels per day at a virtual meeting scheduled for Saturday. The move surpasses the group's previously planned hikes of 411,000 barrels per day for May, June, and July.
The planned August increase marks a significant pivot for OPEC+, which has surprised markets since April by ramping up production more aggressively than anticipated. The shift comes at a time of high global inventory levels and slowing demand growth, especially from China, raising questions about the group's long-term strategy.
One delegate told reporters the accelerated production ramp-up aims to 'take advantage of stronger demand' during the northern hemisphere's summer months. The group is also under pressure to reclaim lost market share, particularly from US shale producers, and to enforce discipline among members that have exceeded their quotas in recent months.
Officials cite multiple reasons for the strategic shift, including the need to meet peak seasonal demand, enforce compliance among members exceeding their output quotas, and expedite the return of previously offline production. Saudi Arabia, in particular, is reportedly pushing to restore withheld barrels as swiftly as possible.
If approved, the planned hike would bring OPEC+ significantly closer to reinstating 2.2 million barrels per day of suspended output by September. Another similar increase may be considered for the following month, with potential production targets for September also expected to be on the meeting agenda.
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