
AI-generated summary
The east-west oil pipeline is a strategic shipping line that Saudi Arabia uses as an alternative to the Strait of Hormuz. With a capacity of 4 million barrels per day, it accounts for approximately 4% of the global oil supply.
Following drone attacks on Friday, Saudi Arabia was forced to close its giant east-west oil pipeline.
The Riyadh administration did not share detailed information about the extent of the damage or how long the line would be disabled.
While sources providing information to the Reuters agency predicted different times, one source stated that the repair of the damage could take five to six weeks, while another source stated that the line could be partially commissioned in a shorter period of time while the work continues.
The line, which crosses the desert in the Arabian Peninsula, has been protecting Saudi Arabia from the closure of the Strait of Hormuz due to the war in the region for the last six months, which paralyzed the shipments of neighboring countries.
The world's largest oil exporter was directing 4 million barrels of oil per day, equivalent to approximately 4 percent of global supply, to Yanbu Port on the Red Sea coast through this line.
The supply and price shock created by the US/Israel-Iran war in energy markets made renewable energy, storage and network investments in Europe and Asia a strategic necessity.
Saudi Arabia's strategic East-West Oil Pipeline was temporarily stopped for security and damage control reasons following the attacks on September 10. The failure of the line, which is an alternative to the Strait of Hormuz, poses a risk for global energy supply.
Minister of Energy and Natural Resources Alparslan Bayraktar stated that Turkey and Azerbaijan complement each other in energy projects, and announced that 100 billion cubic meters of gas flow was provided to Europe through TANAP and that new green energy corridor projects are on the agenda.
Minister of Energy and Natural Resources Alparslan Bayraktar stated that Türkiye and Azerbaijan have developed predictable and diversified cooperation in energy and reported that 100 billion cubic meters of natural gas flowed from TANAP this year.

Minister of Energy and Natural Resources Alparslan Bayraktar stated that Türkiye and Azerbaijan have developed predictable and diversified cooperation in energy and noted that there is a gas flow of 100 billion cubic meters from TANAP.
Across the European Union, the average gasoline price, including tax, increased by 24 percent and the diesel price by 33 percent. The war in the Middle East and supply security concerns were effective in the price increases.