An Alternative to the Hormuz Strait is Being Established: Japan Supports the Project

The Japanese authorities plan to support the construction of new oil pipelines in the Middle East, which could serve as an alternative route for oil supply that bypasses the Strait of Hormuz. This was reported by TASS, citing NHK.

Tokyo has developed a program for ensuring energy security, which also includes the creation of oil reserves to mitigate the impacts of potential supply disruptions.

The program is set to be approved at a government meeting on August 26, with Prime Minister Sanae Takai presenting it. Saudi Arabia is also expected to participate in the construction of the pipelines.

Among the measures under discussion are the subsidization of logistics costs for companies purchasing oil via alternative routes and the provision of insurance coverage for such supplies.