5 minutes agoSaudi Arabia had predicted the crisis, the pipeline hidden for 45 years became the planet's main energy artery
Periskopi(4 months ago)
(4 months ago)Iran's Iran-based Hormuz Strait has caused shocks in global energy markets, as the route exceeds about 20 percent of the world's oil trade. After recent developments, the price of oil has reached up to $126 per barrel, while many countries are seeking solutions to avoid the consequences [...]
However, Saudi Arabia appears to have predicted such a scenario decades ago. Exactly 45 years ago. Since 1981, it built a pipeline some 1,200 miles [1,200 km] long linking Jubail in the Persian Gulf to the port of Yanbu on the Red Sea, completely bypassing the Strait of Hormuz.
The pipeline has a capacity of up to 7 million barrels of oil per day and was built precisely to guarantee Saudi exports even in case of crises in Hormuz. Infrastructure has been standing for decades as a strategic alternative and can now be used to divert exports to the Red Sea.
Meanwhile, at the international level, measures for maritime transport safety in the region are being discussed, while the United States has proposed establishing a coalition to escort ships into this important energy corridor. But in the situation, it seems that only Saudi Arabia had predicted the escalation of the situation and had prepared the reserve plan.
