TotalEnergies Backs Two Major Oil Pipelines to Bypass Hormuz
TotalEnergies will invest in two major oil pipelines designed to bypass the Strait of Hormuz, backing Abu Dhabi’s expansion of its Fujairah export route and a planned pipeline carrying Iraqi crude through Syria to the Mediterranean. CEO Patrick Pouyanné announced the commitments Monday at the ONS energy conference in Norway, two months after saying investment in alternative Gulf export routes had become an “absolute priority” for TotalEnergies following the paralysis of Hormuz during the Iran war.
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Key Facts
- Fact 1: The UAE’s existing Habshan-Fujairah pipeline can carry up to 1.8 million barrels per day from Abu Dhabi’s oil fields to the Gulf of Oman, allowing those barrels to reach international markets without passing through Hormuz.
- Fact 2: The project could cost around $15 billion and take at least four years to complete, according to recent estimates.
- Fact 3: By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com Europe Dodges a Rhine Crisis for the Worst Possible Reason Oil Nears $100 as Trump’s ‘Economic D-Day’ Raises the Stakes China's Renewables Boom Faces Record Clean Power Curtailments
TotalEnergies will invest in two major oil pipelines designed to bypass the Strait of Hormuz, backing Abu Dhabi’s expansion of its Fujairah export route and a planned pipeline carrying Iraqi crude through Syria to the Mediterranean. CEO Patrick Pouyanné announced the commitments Monday at the ONS energy conference in Norway, two months after saying investment in alternative Gulf export routes had become an “absolute priority” for TotalEnergies following the paralysis of Hormuz during the Iran war.
The company has not disclosed how much it will invest or what stakes it will take in either project. “We will become partners of the pipeline moving from Baghdad to Syria, but I will also invest in Abu Dhabi, in doubling the Fujairah pipeline,” Pouyanné said, according to Reuters. The UAE’s existing Habshan-Fujairah pipeline can carry up to 1.8 million barrels per day from Abu Dhabi’s oil fields to the Gulf of Oman, allowing those barrels to reach international markets without passing through Hormuz.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: OilPrice.com
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