Posted on 10/06/2015 6:16:50 AM PDT by thackney
Going back two decades, the quaint United Arab Emirate of Fujairah, some 130km east of Dubai, started carving out its own unique place in the oil and gas industry under the benign shadow of Abu Dhabi; custodian of the world seventh-largest proven oil reserves.
Fujairah had what the other six of constituents of the UAE did not – a shoreline on the Gulf of Oman and not the Persian Gulf. Any ships loaded on the latter coastline remained vulnerable to Iranian belligerence and threats to close of the Strait of Hormuz, a maritime outlet from the Persian Gulf to the Indian Ocean via which 35% of the world’s oil traded by sea passes.
So when the Abu Dhabi government’s International Petroleum Investment Company (IPIC) gave a nod to Habshan–Fujairah oil pipeline project in 2006 – conscious of a potential geopolitical flashpoint disrupting oil shipments and congestion in its own ports – Fujairah got a shot in the arm it had always craved.
By the time $3.3 billion, 370 km pipeline started bringing 1.5 million barrels per day of crude oil in June 2012 to its designated recipient port on the Gulf of Oman, Fujairah was already on its way towards challenging the oil storage and bunkering world’s established order.
It is no small matter that the port will soon have the capability to handle 70% of UAE’s oil exports, completely bypassing the Strait of Hormuz with the Habshan–Fujairah pipeline set for capacity enhancements. Rather that the said development is part of a much wider ever evolving offer from this oil and gas hub.
On a recent visit to the port, I found local officials suggesting that a target set three years ago of exceeding 13 million cubic metres in storage capacity by 2015 might be comfortably beaten.
(Excerpt) Read more at forbes.com ...
Can they defend the pipeline?
It is below grade and through the mountains.
What I want to know is this: why isn’t the UAE taking in Syrian refugees?
Because they are smarter than the US and Europe?
Or maybe they aren’t
http://www.middleeasteye.net/news/uae-says-over-1-bn-spent-syrian-refugees-1369633280
They might be ‘spending money’ but they’re not taking in refugees...
More than 100,000 Syrians who have fled violence in their homeland since 2011 are living in the UAE — and are being treated equally as other expatriate groups.
http://gulfnews.com/news/uae/government/uae-has-eased-residency-rules-for-syrians-1.1582025
One of the more lovely places I’ve been to/s.
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