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Hormuz alternatives are costly for Gulf nations
The crisis that closed the Strait of Hormuz revealed the extent of the Gulf countries' dependence on the maritime passage, prompting many of them to accelerate the development of alternative means for transporting energy and trade. Saudi Arabia and the United Arab Emirates managed to maintain a significant portion of their oil exports thanks to previous investments in infrastructure, while Kuwait and Qatar were forced to sharply reduce their exports. Kuwait's exports declined to zero for the first time since 1991, impacting its government revenues and economic balance. Currently, the region is moving towards reducing reliance on the Strait of Hormuz through massive investment projects in pipelines, ports, and logistical facilities, aiming to ensure the continued flow of oil and to mitigate geopolitical risks.
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