Page 19 - MEOG Week 42

MEOG NEWS IN BRIEF MEOG

OIL emphasized the completion of the project on Israel and UAE open talks
schedule.
Iran’s strategic oil pipeline project, he said: “The project is being followed over top secret oil pipeline
Regarding the overall progress of the
project nearing completion up with the aim of completing and launching Israel and the United Arab Emirates have
it before the end of the year, and considering
opened talks over an oil pipeline linking the
Iran’s new 1000-kilometer-long Goreh-Jask that the project progress has reached about Red Sea with the Mediterranean and whose
oil pipeline in the southern Hormozgan 60 percent, so we focus more on the sectors operations Israeli officials treat as top secret.
province, which will provide the country with in which the project operations are facing Europe Asia Pipeline Co., controlled by Israel’s
an alternative route for crude oil exports that difficulties and need more attention.” government, and UAE-based MED-RED
are currently transferred through the Strait According to the official, currently, about Land Bridge Ltd. signed a memorandum
of Hormuz, has registered over 60 percent of 650 kilometers (km) of pipes have been of understanding to collaborate on the
physical progress and is underway with full provided to the project site. transportation of crude and oil products
force. “It is necessary for pipe manufacturing between the Persian Gulf and Western
The project, which is aimed at expanding companies to make extra efforts for timely markets, according to an EAPC statement on
the oil transport capacity in the south of the delivery of the entire length of pipes required Tuesday. The agreement comes after the UAE,
country to one million barrels a day, was for the project within the next three months OPEC’s third-biggest oil producer, and Israel
inaugurated in late June by President Hassan and send it to the workshop,” he stressed. announced in August they would normalize
Rouhani. Regarding the pump houses No. 2 and 4, ties. The two have since discussed establishing
Addressing the inaugural ceremony of the which are important parts in the first phase of embassies, starting direct flights and business
project, President Rouhani said this project the project and have priority, more attention deals.
was currently the country’s most strategic has been paid to the supply of required items EAPC operates the Eilat-Ashkelon
project. and deficits. Delivery of the main pumps pipeline, built by Israel and Iran in the 1960s.
Rouhani said a total of $300 million has so needed for the launching of this phase is also It has a capacity of 600,000 barrels a day and
far been invested in the project while another planned by domestic manufacturers for late almost 23 million barrels of storage space.
$800 million to $850 million is needed for its November, Dehqani explained. Most oil sent from the Gulf to Europe is either
full operation. “Also, in the storage tanks section of Jask shipped through the Suez Canal or via Egypt’s
“We hope that exports from Jask will begin terminal, parts of sheets have been made Sumed pipeline, which can pump 2.5 million
as the government’s most strategic project and the welding operations of the tanks have barrels daily.
by the end of this [calendar] year (March 20, started about one month ago”, the official The Eilat Ashkelon Pipeline Co. Ltd., as
2021),” the president noted. added. EAPC used to be called, was jointly owned by
According to the head of Iran’s Petroleum The PEDEC head also referred to the Jewish state and Iran’s government. It was
Engineering and Development Company the consequences of the outbreak of the used to move Tehran’s crude into European
(PEDEC), considering the current rate of coronavirus and said: “In such circumstances, markets. After Iran’s Islamic Revolution in
progress in the Goreh-Jask oil pipeline project, we have always tried to monitor the health 1979, the nations became enemies. Yet for
National Iranian Oil Company (NIOC) will and safety protocols to ensure the health of some years Israel still allowed Iranian oil to
be able to export its first oil cargo from Jask our colleagues.” be shipped through the pipeline in secret,
terminal by the end of the current Iranian Goreh-Jask pipeline will transfer one including by Glencore founder and sanctions-
calendar year. million barrels of heavy and light crude oils busting commodities trader Marc Rich.
Touraj Dehqani, who visited the project per day to Jask oil terminal in the southern The two countries have squabbled over the
on Sunday, held several meetings with Hormozgan province to be exported. pipeline more recently, with Tehran wanting
contractors and project managers and was TEHRAN TIMES compensation after Israel took over its 50%
briefed about the details of the project stake. Even today, information on what
progress; during these meetings, the official flows through the pipeline can be censored

Week 42 21•October•2020 www. NEWSBASE .com P19