Gulf Arab states are mulling a plan to open an alternative route for oil exports that could rely on a strategically important Israeli port on the Mediterranean Sea, the Financial Times reported.
The long-delayed plans for an alternative to the Strait of Hormuz, which prior to the current war with Iran was used for the export of roughly a quarter of the world’s oil supply, call for pipelines, rail links, and road corridors to reduce global reliance on the Persian Gulf chokepoint.
While a number of options are on the table for a land-based route for moving oil from the Persian Gulf to the Mediterranean, the US has for years backed a plan to create a broad “economic corridor” from India to Western Europe, running through Saudi Arabia, the United Arab Emirates, Jordan, and Israel.
The planned route, dubbed the India–Middle East–Europe Economic Corridor, or IMEC, would utilize the Israeli port of Haifa to handle energy shipments to Europe and the Western Hemisphere.
worldisraelnews.com
The long-delayed plans for an alternative to the Strait of Hormuz, which prior to the current war with Iran was used for the export of roughly a quarter of the world’s oil supply, call for pipelines, rail links, and road corridors to reduce global reliance on the Persian Gulf chokepoint.
While a number of options are on the table for a land-based route for moving oil from the Persian Gulf to the Mediterranean, the US has for years backed a plan to create a broad “economic corridor” from India to Western Europe, running through Saudi Arabia, the United Arab Emirates, Jordan, and Israel.
The planned route, dubbed the India–Middle East–Europe Economic Corridor, or IMEC, would utilize the Israeli port of Haifa to handle energy shipments to Europe and the Western Hemisphere.
Gulf states eye Israeli pipeline to bypass Strait of Hormuz
Gulf Arab states look to Israel's port of Haifa as part of an alternative energy shipping route as Iran continues its closure of the Strait of Hormuz.
worldisraelnews.com
