Iran officially started the construction of the 1,000-km Goureh-Jask pipeline on June 25, state television reported. The $1.1-billion project also includes storage facilities of 10 million barrels of crude. The pipeline will transport oil from the southern Bushehr province to the coast on the Sea of Oman for future exports, circumventing the disputed Strait of Hormuz.
President Hassan Rouhani said the pipeline is a strategic project for Iran’s security, economy, and energy. A blockade in the Strait of Hormuz can threaten the entire of Iran’s crude exports. Hence, the pipeline is built to eliminate such risk. It can provide customers with the confidence to take Iranian oil under any conditions, he added.
Rouhani noted that about 440 km of the pipeline had been constructed and the line would be equipped with five pump stations. Iranian Oil Minister Bijan Zanganeh said that Iran had spent $300 million so far. Zanganeh also said that Iran would expand the oil export facilities in Jask with floating buoy mooring.
