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TEL AVIV, Israel, March 5 (UPI) -- The United Arab Emirates aims to build a network of oil and gas pipelines to bypass the Strait of Hormuz, a key waterway controlled in part by Iran.
The Iran Revolutionary Guard Corp. announced in 2008 it would seal off the Strait of Hormuz, a key waterway of the Persian Gulf, should Israel or the United States launch a military attack.
A significant portion of the world's oil passes through the Strait of Hormuz. Iran, Kuwait and Iraq are dependent on the waterway for the transit of hydrocarbons.
The United Arab Emirates launched plans to build a 230-mile pipeline across its isthmus to bypass the sensitive strait.
Expansions to the project include a 1,500-mile network that would pass through Saudi Arabia, Kuwait and the United Arab Emirates, Doron Peskin, the head of research at market analyst Info-Prod Research (Middle East) Ltd., writes for Israel's Ynetnews agency.
The project could take a decade to complete, when it would have the capacity to carry 5 million barrels of oil per day.
Eight terminals and a part are planned by the Fujairah emirate. A section of the network could be finished by 2011.
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