Qatar Energy CEO and energy minister Saad Sherida Al-Kaabi said a recent U.S.
Treasury Secretary remark that the Strait of Hormuz would “lose value” within
two years is wrong. He said the strait carries oil, gas and other trade and that
commerce through Hormuz cannot become obsolete. Al-Kaabi said Qatar has no
current plans to build pipelines to bypass the strait, that any decision would
be based on commercial and technical factors, and that Qatar will continue to
use Hormuz to transport energy. Qatar’s commerce and industry minister added the
strait will not lose its role as global shipping remains predominantly seaborne.
