Iraq oil pipeline plan would take years to build, cost billions: Report
Summary
Iraq plans to build a new oil pipeline through Syria to avoid problems in the Strait of Hormuz. The project could take about four years to complete and may cost at least $15 billion, according to sources familiar with the plan.Key Facts
- Iraq wants to build an oil pipeline that passes through Syria.
- The pipeline aims to bypass the Strait of Hormuz, a key but sometimes risky shipping route.
- The project is expected to take around four years to reconstruct.
- The estimated cost is at least $15 billion.
- The information comes from two sources who spoke to Reuters.
- The goal is to reduce future disruptions in oil exports.
- Building the pipeline involves rebuilding or developing new infrastructure.
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