Gulf countries plan to invest heavily in a pipeline export project to bypass the Strait of Hormuz

According to the Financial Times, Gulf countries are re-evaluating costly pipeline plans to bypass the Strait of Hormuz, ensuring oil and gas exports, due to the threat posed by Iran's potential long-term control over the strait. Government officials and industry executives point out that despite the high costs, political complexities, and years required for pipeline projects, this may be the only way to reduce Gulf countries' dependence on the strait.

The current conflicts further highlight the strategic value of Saudi Arabia's 1,200-kilometer "East-West Pipeline." Built in the 1980s to address concerns over the closure of the strait due to the Iran-Iraq "Tanker War," it has now become a critical lifeline, transporting 7 million barrels of crude oil daily to the Red Sea port of Yanbu, completely bypassing the Strait of Hormuz.

Saudi Arabia is currently considering how to export more crude oil via pipelines, with specific plans including expanding the capacity of the "East-West Pipeline" or opening new routes.