Iraq plans Syria pipeline to bypass Strait of Hormuz
Iraq and Syria have agreed to feasibility studies with a consortium that includes Chevron, TI Capital and Qatar's UCC Holding to explore a new crude pipeline to the Mediterranean. Sources told Reuters the project would require building largely new infrastructure because the old Kirkuk–Banias line was badly damaged, and would take around four years and at least $15 billion to complete. U.S. officials say an initial transport capacity could be about 2 million barrels per day, aiming to provide an alternative to exports through the Strait of Hormuz, but the plan faces land-rights, timeline and capacity hurdles.
Planned Iraq–Syria pipeline would cost at least $15 billion.
Context
The Iran war has largely disrupted exports through the Strait of Hormuz. An old pipeline linking Kirkuk to Banias was damaged and rarely used. Studies could lead to a multiyear build that replaces damaged infrastructure.
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