India plans subsea gas pipeline via Oman to bypass Strait of Hormuz risk
India is reportedly accelerating a subsea natural gas pipeline project routed via Oman, with a budget of about 40,000 crore rupees ($4.8 billion). The plan aims to build resilience against any blockage of the Strait of Hormuz.
India is reportedly accelerating its subsea natural gas pipeline project, with a budget of around 40,000 crore rupees. According to the Economic Times, New Delhi wants the line to cross via Oman to safeguard energy supply if the Strait of Hormuz is blocked. The design involves one of the deepest seabed crossings ever attempted.
The Iran war has reignited focus on the vulnerability of Asia's energy import routes. India draws a significant share of its natural gas from Qatar and the United Arab Emirates, and nearly half of its crude from the Gulf. Once complete, the pipeline would meaningfully diversify the country's gas supply.
Project financing partners are expected to include state energy firms and private capital funds. India is in parallel planning investments to expand LNG capacity and strategic petroleum reserves on its east coast. Environmental impact reviews and the final routing decision are expected in the coming months.
More from Asia
Honda books first ever annual loss after $11.5 billion EV write-down
Japanese auto giant Honda has reported its first ever annual loss after a write-down tied to its retreat from an aggressive electric-vehicle strategy. The company says it will narrow its EV line-up to a tighter set of segments.
Explosion at China fireworks factory kills 26 people
An explosion at a fireworks factory in Hunan province, China, killed 26 people and injured 61, according to state media reports.
China scraps tariffs for all but one African nation
China announced it has scrapped tariffs for almost all African nations. This move boosts China's soft power in African states, but may also deepen economic inequalities.