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Hormuz Crisis Gulf IMEC Project: Amidst increasing tension in the Middle East, Gulf countries are now exploring new options to reduce their dependence on the Strait of Hormuz. According to reports, Arab countries are considering exporting crude oil through Israel’s Haifa port, so that dependence on this important sea route can be reduced.

Israeli Prime Minister Benjamin Netanyahu had recently proposed to the Gulf countries that alternative routes for oil exports should be developed, so that the impact of the regional crisis on energy supply is reduced.

Important role of Adani Group

Haifa Port included in this plan is operated by the Indian Adani Group. The port was purchased through a consortium in which Adani Group holds 70% stake, while the remaining 30% is held by local Israeli company Gadot. This group has got the right to operate till the year 2054. Haifa Port is Israel’s second largest port and handles approximately half of the country’s container cargo. It is also known as a major terminal for cruise ships.

Access to Europe via Haifa

According to the report, options being considered include a corridor that would connect the Arabian Peninsula to the Mediterranean Sea. With this, oil can be transported directly to Europe through Haifa Port.

At present, Saudi is the only country which has created a successful model of bypassing the Strait of Hormuz by delivering oil to Yanbu Port in the Red Sea through the ‘East-West Pipeline’. Experts consider this a strategic “masterstroke”.

Multi-modal network planning

In the new plans, not only pipelines but also rail and road networks are being included, so that a multi-option system can be created for oil supply. This will reduce the risk of supply disruption despite regional tension.

IMEC project is getting a boost

At the heart of this strategy is the India-Middle East-Europe Economic Corridor (IMEC), an ambitious plan to connect India to Europe via the Middle East. Under this project, preparations are being made to give a new direction to energy and trade through pipeline, rail and road networks. However, the success of this plan will largely depend on the consent of Saudi Arabia, especially on the issue of including Haifa Port in this corridor.

Netanyahu in favor of IMEC

Benjamin Netanyahu believes that a permanent solution to the Hormuz crisis is to divert energy pipelines to the west, completely bypassing strategic barriers such as the Strait of Hormuz. He also said that military solutions can only provide temporary relief, while developing alternative energy pathways is necessary for long-term stability.