Bahrain and the rest of the GCC should explore alternative land and sea routes to facilitate the movement of energy resources through the region and the rest of the world, experts suggested yesterday during a major virtual conference.
The conference, Developments in the Strait of Hormuz, Between Geography and World Energy Security, was organised by the Bahrain Centre for Strategic, International and Energy Studies (Derasat), in co-odination with the Arab Energy Club.
Participants included Derasat chief executive officer Abdulla Al Ahmed, Gulf Research Centre (GRC) founder and chairman Dr Abdulaziz Sager and Oil and Environment Ministry Under-Secretary Ezz Al Mannai.
Transportation and Telecommunications Minister and Derasat board of trustees chairman Dr Shaikh Abdulla bin Ahmed Al Khalifa was among the attendees.
Speaking during the event, Dr Sager slammed the Iranian attacks on the GCC, revealing that the region intercepted more than 3,500 missiles and drones since February 28.
“These attacks set a dangerous precedent, and requires us to rethink our strategies when it comes to energy, especially security,” he said.
“GCC countries all denied use of their land and air space prior to the start of the war, and yet Iran chose to attack not just bases, but also residential areas and infrastructure in the region.
“Despite all this, the GCC is sticking to its values and does not want to start any act of aggression against Iran.
“We have proudly defended our land and people, and will continue to do so.”
Dr Sager stated that the attacks, along with the closure of the Strait of Hormuz, necessitate alternative solutions in order to get energy production levels back to normal.
He revealed that the feasibility of using several sea routes are being explored in order to help the region and the rest of the world that is dependent on these energy sources.
“Alternative routes are being explored including the Red Sea, through which Japanese ships recently passed without any issues.
“Countries like Oman and the UAE also have alternative sea routes through the Arabian Sea which could potentially be utilised.
“The challenge comes for Bahrain, Qatar and Kuwait, who do not have any sea routes other than the Strait of Hormuz. In this case, we could potentially utilise land routes throughout the region.”
The Strait of Hormuz is a critical global artery handling nearly one-fifth of the world’s oil, liquefied natural gas (LNG), and a significant portion of fertiliser supplies.
The recent conflict led to a near-blockade, threatening global economic security and fuelling energy prices.
Ahead of a potential second meeting between the US and Iran, Dr Sager stated the best possible outcome for the GCC will not only come from an end to the war, but also free passage through the strait.
“Any agreement should not only signal an end to the conflict, but also an insurance that no such attacks will happen again,” he said.
“Safe passage through the waters of Hormuz for vessels is also crucial to secure energy sources.
“We, in the GCC, should also use diplomacy to ensure that no fees are required to pass the strait, and in order to secure this, we could potentially work with China and Russia as well.”
Meanwhile, UAE-based Trends Research and Advisory chief executive Dr Mohammed Al-Ali recommended that the region ‘move in different directions’ to consolidate the energy sector, and to invest in diversification of sources.
“We have to step up investment in alternative and renewable energy sources such as solar in order to protect the sector and consolidate its security,” said Dr Al-Ali.
“This moment can be a turning point for the GCC and its vision regarding energy.
“So, in addition to diversifying land and sea routes, we can work together to find more sources of energy and intensify our presence in these markets.
“The energy grid is proof that when the countries come together, we are capable of achieving anything.”
Since February 28, the Bahrain Defence Force (BDF) has intercepted a total of 523 drones and 194 missiles.
In a recent statement, the BDF urged people not to approach or touch strange objects, and that it will continue to be vigilant in the case of any new threats.
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