Iran’s Ambitious Plan: Transforming Qeshm into the Persian Gulf’s Premier Bunkering Hub

Iran is making significant investments in the Salakh port located on Qeshm Island, aiming to attract more vessels for bunkering services. This strategic move is intended to position Qeshm as a more accessible alternative to the distant Fujairah port, enhancing operational efficiency for shipping companies navigating the busy Persian Gulf.

The Saturday report by Fars news agency highlighted several key developments regarding the Salakh port and the broader economic initiatives in the region. Here’s a breakdown of the current and upcoming projects:

• Investment in Refineries: Four major refineries are under construction on Qeshm Island, each designed to process 140,000 barrels of oil per day. This will significantly boost the availability of bunker fuel, gasoline, and asphalt.
• Long-term Oil Storage Project: A comprehensive project is underway to create storage facilities for 100 million barrels of oil, enhancing Iran’s capabilities in managing oil reserves.
• Bunker Fuel Supply Expansion: Currently, the Salakh port supplies 50,000 metric tons of bunker fuel monthly, with ambitions to escalate this capacity to 750,000 metric tons per month.

Despite these efforts, it has been reported that Iran holds a minimal share of the total bunkering revenues within the Persian Gulf. The local bunkering industry is estimated to be worth more than $30 billion, driven by the transit of over 50,000 ships annually for trade and energy transport.

Qeshm Island, with a surface area of nearly 1,500 square kilometers, ranks among the largest islands globally. Its strategic location in the Strait of Hormuz is critical, as this route accounts for approximately 20% of the world’s oil trade.

In recent years, Iran has launched several development plans targeting its southern islands, with the objective of spurring economic growth in a region characterized by its relatively low economic activity but rich in energy resources. These initiatives aim to leverage the vast energy reserves found in the area, ultimately enhancing the local economy and infrastructure.

As Iran continues to evolve its maritime capabilities, the Salakh port is positioned to become a key player in the bunkering industry within the Persian Gulf. The strategic investments and ambitious projects can potentially transform Qeshm into a vital hub for shipping and oil services, thereby boosting Iran’s position in the global energy market.

Overall, these developments reflect Iran’s proactive approach in capitalizing on its geographic advantages and vast resources. With the ongoing projects at Salakh port, the country is set to improve its share of the lucrative bunkering market and strengthen its economic standing in the region.

Stay tuned for further updates on the progress of these initiatives and their implications for the energy sector in Iran and beyond.

For more detailed information or inquiries, please refer to the original source. MNA/Press TV