Ammon News - AMMONNEWS - Jordan on Monday approved signing an agreement with Iraq to build a twin gas and oil pipeline between the two countries, the state-run Petra news agency reported.

The Jordanian Cabinet said the pipeline will stretch from Iraq's Basra to Jordan's Aqaba and an agreement will be signed soon by energy ministries of both countries.

The project is strategic for both countries and will provide the Kingdom with its energy needs of oil and gas.

The Cabinet added that the project will give Iraq an opportunity to boost its oil exports.

The 1,680-km double pipeline will pump one million barrels of oil a day from Basra on the Arabian Gulf to Jordan's Aqaba Port, in addition to 258 million cubic feet of gas, according to the Ministry of Energy in Jordan.

About 150,000 barrels of the oil from Iraq is needed to meet Jordan's needs. The rest will be exported through Aqaba, generating about three billion U.S. dollars a year in revenues to Jordan, according to the ministry.