Bloomberg News reported on Wednesday, November 4, citing people in the know, that the United Arab Emirates is considering building a third crude oil export pipeline to bypass the Strait of Hormuz; This action is intended to significantly reduce the country's dependence on this waterway.
According to Bloomberg sources, the Abu Dhabi National Oil Company (ADNOC) is considering building a pipeline from the west coast of the United Arab Emirates to the port of Fujairah in the east of the country. This pipeline may be given to other companies and together with the existing pipeline and the second line that is to be launched next year, it will increase the ability to export oil in the event of further disruption in the movement of ships through the Strait of Hormuz.
The sources also said that ADNOC has informed some of its Asian customers about the plan, but the plans have not yet been finalized and even the route of the pipeline may change.