In a move to protect its exports against potential problems in the Gulf and to boost Caspian oil shipments Iran is planning a new oil terminal outside the Strait of Hormuz.
The head of the Iranian Oil Terminals company, Pirouz Mousavi, is quoted as saying Iran plans to build a new export terminal at Bandar Jask, on the Gulf of Oman coast. It would be connected to the Caspian Sea port of Neka via a 1 million barrel a day pipeline.
The new terminal would enable Iran to export more oil from Caspian producers and provide a back-up option for Iran’s main export terminal at Kharg Island.
Mousavi says the planned terminal would have a storage capacity of 20 million barrels and cost around $2.2 billion to build.