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[BUSINESS] · Saudi Arabia, Yemen, Kuwait, United Arab Emirates, Oman · 21 sources

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Saudi Arabia to expand oil pipeline capacity to 10 million barrels per day

At the 25th WPC Energy Congress in Riyadh, Saudi Arabia announced plans to expand its East-West pipeline capacity to 10 million barrels per day within two to three years. This strategic move aims to increase energy security and provide an alternative export route to the Red Sea, bypassing the vulnerable Strait of Hormuz amid regional tensions and attacks on maritime shipping.

Energy Minister Prince Abdulaziz bin Salman emphasized that the Kingdom is committed to its energy transformation and international commitments. The expansion involves repurposing a domestic gas pipeline to transport oil, which could initially add 1.2 million barrels per day to exports. Saudi Aramco CEO Amin Nasser noted that global commercial onshore oil inventories have fallen below 6 billion barrels, increasing the need for logistical resilience.

In addition to infrastructure, Saudi Arabia signed energy cooperation memorandums with Mongolia, Tanzania, Cyprus, and Mauritius. The Kingdom is also exploring regional partnerships, including discussions with Yemen regarding the modernization of Aden refineries and potential electrical grid connectivity. Meanwhile, Kuwait is studying similar pipeline projects through Saudi Arabia and the UAE to diversify its own export options.

Entities

Abdulaziz bin Salman · Amin H. Nasser · Amin Nasser · East-West Pipeline · Prince Abdulaziz bin Salman · Riyadh · Saudi Arabia · Saudi Aramco · WPC Energy

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