TotalEnergies CEO Calls for Investment in Pipelines Bypassing Hormuz
JH Kim
Summary
- TotalEnergies' CEO said investment in pipeline infrastructure that can bypass the Strait of Hormuz is needed.
- Pouyanne said TotalEnergies should invest in pipelines that would avoid the Strait of Hormuz through Abu Dhabi and Syria.
- He said the latest crisis offered a lesson for TotalEnergies, which has the greatest exposure to the Middle East among global oil companies.
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TotalEnergies Chief Executive Officer Patrick Pouyanne said investment is needed in pipeline infrastructure that can bypass the Strait of Hormuz.
Walter Bloomberg reported on June 23 that Pouyanne said TotalEnergies should invest in pipelines that would circumvent the strait through Abu Dhabi and Syria.
He described the latest crisis as a lesson for the company. TotalEnergies has the highest exposure to the Middle East among major global oil companies, he said.
The comments came as escalating geopolitical tensions surrounding the Strait of Hormuz highlighted the need to diversify energy supply chains.
JH Kim
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