Bypassing the Strait of Hormuz via pipelines
Gulf governments and oil majors are investing in alternative pipeline infrastructure to mitigate geopolitical risks associated with shipping oil through the Strait of Hormuz.
The argument
The discussion highlighted Chevron's plans to invest in Iraqi oil fields and explore a consortium to build a pipeline connecting Iraq's oil patch to Syria's Mediterranean coast.
The thesis, stress-tested
✓ What validates it
- ✓Signing of definitive agreements between Chevron and the Iraqi government
- ✓Formal formation of the pipeline consortium
▸ Risks discussed
- ▸Geopolitical instability in transit countries like Syria
- ▸High capital expenditure requirements for pipeline construction
- ▸Failure to finalize preliminary agreements
Hear it yourself
"Chevron will explore how to bypass the Strait Of Hormuz for oil from Iraq. Chevron plans to sign preliminary deals tomorrow to invest in two Iraqi oil fields, and the oil giant will join a consortium that's considering building a pipeline that would connect Iraq's oil patch with Syria's coast on the Mediterranean."
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