economy
Iraq and UAE race to establish alternative oil pipelines as exports through Hormuz dry up
Last week, the Iraqi cabinet approved plans to accelerate crude exports through the Kurdistan-Turkey pipeline network.
TL;DR
- Iraq and UAE are fast-tracking plans for alternative oil pipelines to bypass the Strait of Hormuz.
- Iraq's exports through Hormuz have drastically reduced, from 93 million barrels before the war to 10 million barrels in April.
- Iraq plans to triple its crude exports through the Kurdistan-Turkey pipeline network.
- The UAE is expediting the West-East pipeline to Fujairah, expected online in 2027, to double its export capacity.
- Both nations' heavy reliance on Hormuz makes them vulnerable, though the UAE has some existing alternatives like the Fujairah terminal.
- Existing alternative routes, like Saudi Arabia's East-West pipeline and the UAE's Fujairah terminal, have also faced attacks.