Iraq-Syria Pipeline To 'Bypass' Hormuz Likely To Take Four Years, $15BN To Build

Reuters reported that Iraq’s plan to export oil through Syria would likely require four years to complete and cost $15 billion. The proposal is being pursued after Iran’s closure of the Strait of Hormuz sharply disrupted Iraq’s established export route.

In July, Iraq exported 35.5 million barrels through its Basra ports via Hormuz, according to the report. The proposed line would connect Iraq’s oil system to an outlet through Syria, creating an alternative route but only partially removing dependence on the strait.

The timeline and cost leave the project exposed to financing, construction, security and political risks across Iraq and Syria. The immediate market issue remains the availability of export capacity while the pipeline is being planned and built.