Gulf nations planning pipelines to bypass Strait of Hormuz: Report

Gulf countries are planning pipelines similar to Saudi Arabia's East-West pipeline to export oil amid the closure of Strait of Hormuz due to the US-Iran war, a Financial Times report said. The East-West pipeline bypasses the Strait of Hormuz and can transfer 7 million oil barrels daily. Construction contractor CAT Group warned such a project today would cost $5 billion.