The Newsmakers54
The Strait of Hormuz crisis has underscored the danger of global energy supplies being so heavily dependent on a single maritime chokepoint. The massive disruption to global shipping in the key waterway has prompted countries in the region to restructure cargo routes and look for alternatives.
Gulf countries, including Saudi Arabia, the UAE and Oman, are already revisiting costly plans for pipelines to bypass the strait, and continue to export oil and gas. What are the real costs and risks of this strategic restructuring? And how long could alternative routes take to build before a potential serious global economic crisis hits?
