UAE to build new oil hub in Gulf of Oman to bypass Strait of Hormuz
The UAE is planning to develop a new oil export hub in the Gulf of Oman to bypass the Strait of Hormuz, a critical waterway currently threatened by regional conflict. The project aims to improve infrastructure in cities like Fujairah and potentially integrate with broader trade corridors like the IMEC.
Why it matters
Diversifying oil export routes is a strategic move to mitigate the impact of geopolitical tensions and potential blockades in the Persian Gulf.
The United Arab Emirates is planning to build a new port and container terminal on the opposite side of the Strait of Hormuz, in a push to bypass the Iranian closure of the waterway, the Financial Times reported on Monday.According to the report, the new port would be built in the city of Fujairah on the Gulf of Oman, which already has an existing harbor, but it lacks the necessary infrastructure to serve as a major export hub for the UAE.The initiative will be led by DP World, the UAE's main port authority, and will also aim to reduce Dubai's dependence on its flagship Jebel Ali hub in the Persian Gulf.According to the UAE's Arabian Business, the Emirates also plans to improve infrastructure at other ports in the Gulf of Oman, with the main plans centered on Dibba, Khor Fakkan, and the already mentioned Fujairah.The push comes as conflict between…
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