The Jerusalem Post, an Israeli newspaper, in publishing an analysis has said that Syria is in the process of presenting itself as a potential energy corridor toward the Mediterranean in order to replace the Strait of Hormuz.

Iraq is currently transferring, via land, one million barrels of crude oil per day along with some of its fuel oil to the Syrian port of Baniyas, from where it then reaches global markets, but recently it reached an agreement with Syria over the revitalization of the Kirkuk–Baniyas oil pipeline as well.

The construction and reactivation of this pipeline, with a transfer capacity of 2 million barrels per day, according to Reuters’ assessment, would take about four years and cost $15 billion. It is said that a consortium in which U.S. company Chevron is also present has announced its initial support for conducting feasibility studies for this project.

Yesterday, President Trump said that the United States and regional countries are creating alternative options to the Strait of Hormuz and building new pipelines in the Middle East that could reduce dependence on this waterway.