KARACHI: Pakistan plans to develop a maritime energy city and new deep-sea ports along its coastline to strengthen its role in regional energy logistics, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said on Wednesday, as the Iran war and disruption of the Strait of Hormuz reshape global trade flows.
The initiative comes as the conflict triggered by US-Israeli strikes on Iran on Feb. 28 and Tehran’s subsequent retaliation, including attacks on regional energy infrastructure and an effective blockade of the Strait of Hormuz, has disrupted shipping and pushed up oil prices globally.
The strait, a key artery for about one-fifth of global oil supply, has seen traffic collapse, forcing countries to reassess supply chains and storage capacity.
Chaudhry said Pakistan was moving to capitalize on shifting trade patterns by expanding port infrastructure and energy storage capacity.
“Pakistan Maritime Energy City will offer state-of-the-art storage facilities for oil, LNG and LPG,” he said while chairing a meeting on identifying sites for new deep-sea ports, according to an official statement.
