...and 3 reasons not toMay 26, 2015 9:00
Fujairah and The Fighter
Fujairah gets caught in the ripple effect of regional unrest. Kipp tells you why that’s a good thing.
March 28, 2011 3:46 by Eva Fernandes
Of course, it surely helps matters that the construction of the 370km Habshan Fujairah oil pipeline has recently been successfully completed. The pipeline includes a 14 km offshore section, terminal stations, oil storage tanks, and offshore mooring devices.
According to reports, “the 48-inch diameter pipeline will transport 1.5 MMbbl/d of oil from Abu Dhabi’s oil fields in the southwestern part of the UAE to Fujairah on the Emirates’ eastern coast, bypassing the congested Hormuz Strait.”
Lastly but certainly not least, the congested and rather contentious Hormuz Strait is another reason that Fujairah has been the recipient of so much more business attention over the past few days. Why? Well not to be the opportunistic business minded shrewd website you know and love us for, but the unrest and political instability in the Gulf has made tankers passing through the Hormuz Strait just a tad nervous-which is where Fujairah comes in.
Valery Golovushkin, president and chief executive of Azeri, oil firm Socar’s trading arm, told Reuters “Fujairah is the place to be (…) [with its] strategic location, lower risk, cheaper freight, less congestion, significant investment in port infrastructure and refinery expansion”
So there you have it folks, Fujairah’s on track to become the next Micky Ward- well maybe not Ward, but it was a questionable analogy to begin with.
But what with more government spending promised to the Northern Emirates and foreign investment, could this be the dawn of a new Fujairah?
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