TotalEnergies CEO Says Investment Needed in Pipelines Bypassing Hormuz
JH Kim
Summary
- The TotalEnergies CEO said investment in pipeline infrastructure that bypasses the Strait of Hormuz is needed.
- He said TotalEnergies should invest in pipelines that avoid the Strait of Hormuz through routes including Abu Dhabi and Syria.
- He said TotalEnergies has the highest exposure to the Middle East among major 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 avoid the Strait of Hormuz through routes including Abu Dhabi and Syria.
He called it a lesson from the latest crisis. TotalEnergies has the highest exposure to the Middle East among major global oil companies, he added.
The remarks came as rising geopolitical tensions around the Strait of Hormuz sharpened the focus on diversifying energy supply chains.
JH Kim
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