Bypassing Iran: Israel and Gulf States Develop New Energy Corridor

Israel and several Gulf states have been holding meetings for several weeks to promote solutions for transporting oil and gas to global markets via routes that bypass the Strait of Hormuz and the Bab el-Mandeb Strait, Energy Minister Eli Cohen revealed in a conversation with "Hayom".

These meetings took place both in Israel and abroad. Diplomatic sources from the Gulf confirm that discussions cover both immediate solutions and long-term infrastructure projects, driven by the urgent needs arising from the war with Iran.

The US administration is also involved in these contacts, seeking to strip Iran of its primary leverage in the Strait of Hormuz. Immediate solutions include unloading oil from tankers departing from the port of Yanbu in western Saudi Arabia to the port of Eilat, then transporting it via the EAPC pipeline to Ashkelon, and finally through the Mediterranean Sea to export destinations. Long-term solutions involve constructing pipelines from the Gulf to Aqaba and then to Eilat.

Israel's Strategic Advantage

Minister Cohen stated that the Israeli route to the Mediterranean is the most ideal, as Israel can guarantee its security, unlike proposed alternatives through Syria or Iraq. He added that such trade routes would render the Strait of Hormuz less significant within four to five years.

On Wednesday, the Energy Minister met with his Greek counterpart, Stavros Papastavrou, to discuss the IMEC infrastructure corridor, which aims to connect the East with Europe via Israel. According to the Ministry of Energy, this route would be the fastest and most cost-effective, contributing to the global economy while strengthening Israel's state treasury and creating new jobs.

The Race for Alternative Routes

Israel is entering the race for alternative routes, facing competition from countries like Turkey and Qatar, which are promoting paths through Iraq, Syria, Jordan, and Egypt. Some of these projects are already under construction, with partial funding from American companies like Chevron.

Meanwhile, Gulf states are working to bypass the Strait of Hormuz. The UAE is doubling its pipeline capacity to Fujairah, and Saudi Arabia has increased the capacity of the East-West Petroline. However, these solutions remain partial due to port limitations and threats from Houthi militants in the Bab el-Mandeb Strait.

The Role of EAPC

Israel holds the "Med-Red" agreement with the UAE for oil transport, though its scope was previously limited by environmental concerns and government policies. Senior officials warn that failing to implement this route would mean missing a massive opportunity to integrate into the global energy system.

EAPC CEO Amit Shaked stated: "Even if the Strait of Hormuz reopens, the energy world will not return to its former state. Israel possesses existing, ready-to-use national infrastructure designed to connect the Red Sea to the Mediterranean. We must leverage this advantage to secure our place on the new energy map and strengthen our status as a significant player in the regional and international energy system."