Middle East

In potential huge tanker shift, Iran readies development of Jusk port

Dubai: Iranian President Hassan Rouhani announced plans to turn the southern Iranian port of Jask into an economic and industrial centre and the country's second oil hub. Importantly, the port would negate the need for tankers to transit through the Strait of Hormuz, instead ships would pass through the Sea of Oman.

"Jask should turn into Iran's second hub for exporting oil," Rouhani said on Saturday.

"By implementing the plan, exports of oil won't rely on just one port and one place (the Kharg Island) in the Persian Gulf and through the Strait of Hormuz, but it will also be available through the Sea of Oman," he added.

Iran is ready to invest $2.5bn to develop the port.

The country also plans to lay a pipeline running from the Caspian Sea in the north to Jask.  [17/08/14]

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