Saudi Arabia to be able to export fuel without Hormuz

Oil&Gas Materials 11 March 2013 18:34 (UTC +04:00)

Azerbaijan, Baku, 11 March / Trend, A. Taghiyeva /

Saudi ARAMCO Energy Company will lease space at the Fujairah port (UAE) for the storage of fuel, Al Jazeera channel said on Monday.

Thus, Saudi Arabia will be able to export oil to world markets by bypassing the Strait of Hormuz, the closure of which has repeatedly been threatened by Iran.

The leasable area has a storage capacity of at least one million barrels of gasoline.

Earlier, the UAE announced the completion of construction of the new pipeline, which in terms of oil supplies is an alternative to the Strait of Hormuz. Small amounts of oil will be delivered to the refinery in Fujairah through this pipeline.

The pipeline, construction of which began in 2008, has a length of 360 km. It links fields in the Habshan area to the port of Fujairah, which has access to the Gulf of Oman, bypassing the Strait of Hormuz.

Threats of possible closure of traffic through the Strait of Hormuz, connecting the Persian and Oman gulfs, have been earlier voiced by some of Iran's leaders. These statements were supported by large-scale naval exercises with rocket fire that took place in the waters of the strait.