UAE Announces Acceleration of Pipeline to Bypass the Strait of Hormuz
Iran has blocked the Strait of Hormuz for weeks in response to a U.S.-Israeli air and naval campaign that began on Feb. 28.
TL;DR
- UAE plans to accelerate the construction of a new oil pipeline.
- The new pipeline, West-East Pipeline, aims to double export capacity by 2027.
- The project is directed by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed.
- The pipeline will bypass the Strait of Hormuz and export through Fujairah.
- The existing Abu Dhabi Crude Oil Pipeline has a capacity of up to 1.8 million barrels per day.