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Thursday, May 7, 2009

UAE pipeline would duck Iran threat, bypass Straits of Hormuz

ABU DHABI Ñ The United Arab Emirates has accelerated construction of a crude oil pipeline meant to operate throughout any attack by neighboring Iran.   

The UAE state-owned International Petroleum Investment Co. said it would complete an oil pipeline that would bypass the Strait of Hormuz.

The strait has long been dominated by Iran, which has often threatened to close the passage for nearly 30 percent of world oil shipments.

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The UAE pipeline, with a capacity of 1.5 million barrels per day, would reach Fujairah in the Gulf of Oman, Middle East Newsline reported. IPIC said the project would be completed by 2011.

Other GCC states have also examined pipelines that would avoid the use of cargo tankers through the Strait of Hormuz. One proposal was for the modernization of a pipeline from Kuwait through Saudi Arabia.



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