New Pipeline Transfers Oil to Iran’s SE Coast, Hormuz Strait Circumvented
- July, 20, 2021 - 10:34
- Economy news
TEHRAN (Tasnim) – A major oil pipeline that has come on stream along Iran’s southern coastline allows the country to export 300,000 barrels of oil every day by loading tankers in the port of Jask on the Oman Sea coast without them having to cruise the Strait of Hormuz.
Iranian Oil Ministry authorities said on Monday that crude had finally reached the Jask port on the Sea of Oman after traveling some 1,000 kilometers from Iran’s oil pumping facilities in Persian Gulf’s westernmost region of Goureh through a newly-built pipeline that stretches around the Strait.
Authorities in Petroleum Engineering and Development Company (PEDEC), a subsidiary of the National Iranian Oil Company, said on Monday that crude had started to be loaded to a tanker parked six kilometers off Jask in the runup to inauguration.
PEDEC’s CEO Touraj Dehghani said that a first phase of the Goureh-Jask Pipeline project will enable Iran to export 300,000 barrels per day (bpd) of crude from the new export facilities in the region, Press TV reported.
The pipeline starts at Goureh oil terminal in the southwestern province of Bushehr (on the Persian Gulf coast) and runs to the Jask port terminal in southeast Iran (on the Sea of Oman coast).
Iran began work on Jask oil terminal and the 1000-kilometer pipeline system in late June 2020.
The $2-billion project enables the country to deliver oil for exports outside the Strait of Hormuz, a narrow waterway through which nearly a third of the global seaborne oil trade is accommodated.