The Gulf states are considering expanding their oil pipelines beyond the Strait of Hormuz in a bid to bypass dependence on the crucial Persian Gulf waterway for exports, APA reports, citing Financial Times.
One of the main options examined reportedly includes a trade route that would connect the Arabian peninsula with the Mediterranean through the port of Haifa.
According to the report, Saudi Arabia has been the only Gulf state to maintain a steady flow of oil exports amid the war, mainly thanks to the East-West pipeline, which connects its oil fields to the Red Sea port of Yanbu and bypasses the Strait.
“In hindsight, the East-West pipeline looks like a genius masterstroke,” a senior Gulf energy executive told FT.
The report mentions that the new projects being considered include not only a new pipeline or the expansion of current infrastructure, but rather the creation of a new network of pipelines, trains, and roads that would allow us to stop relying on the Strait of Hormuz.
Christopher Bush, the chief executive of the Lebanese construction company Cat Group, which was one of the main builders of the Saudi East-West pipeline, confirmed to FT that the company "had inquiries about various pipelines."
