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Wednesday, 24 June_President Hassan Rouhani says Iran no longer relies on the Strait of Hormuz for oil exports as a new oil terminal created on the Sea of Oman is opening a new export route for its crude.
The Strait of Hormuz is the world's most important chokepoint for oil, where almost a fifth of the world’s crude or about 20 million barrels per day (bpd) passes through to markets in Asia, Europe, North America and beyond.
Shipping through the narrow strait, with the lane just three kilometers wide in either direction at its narrowest point, has become fraught since the US began building its military presence in the Persian Gulf.
Iran is currently building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Persian Gulf as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil.
The approximately 1,000-kilometer pipeline will bring oil from Goreh in Bushehr to Jask, making it strategically important as the country's second-largest crude oil export terminal.
The Kharg Island terminal deep in the Persian Gulf is currently Iran’s key outlet, accounting for 90 percent of its oil exports. To reach Kharg, tankers must pass the Strait of Hormuz.
“We are now building a 1,000-kilomter pipeline from Goreh to Jask, and our oil exports are no longer connected to the umbilical cord of the Strait of Hormuz. This is the first in Iran's history,” Rouhani told a meeting of Iran’s governors in Tehran late Tuesday.
Rouhani said Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei had told him that the project was “the most strategic work” his administration had been doing.
“This pipeline through which we will be transporting our oil to Jask and the Sea of Oman is a great, huge and unique work in the history of Iran,” the president added.
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