In anticipation of tensions Kuwait stored oil in Japan and Korea: Sheikh Nawaf
Kuwait had anticipated potential disruptions to Gulf shipping routes and took precautionary measures by storing crude oil supplies in key Asian markets such as Japan and South Korea before the escalation of the current regional conflict, according to the Chief Executive Officer of the Kuwait Petroleum Corporation, Sheikh Nawaf Al Sabah.
In remarks to Princeton Alumni Weekly, Sheikh Nawaf said the contingency planning was part of Kuwait’s strategy to maintain exports should maritime traffic through the strategic Strait of Hormuz face disruption during the conflict involving Iran.
The Strait of Hormuz, through which nearly 20 percent of global oil supplies pass, has not been physically blocked, but threats to vessels and the absence of insurance coverage have effectively halted shipping activity in recent days.
As a result, Kuwait relied on pre-positioned supplies in Asian storage facilities and repositioned tankers outside the Gulf to ensure that deliveries to customers could continue temporarily.
Sheikh Nawaf explained that these arrangements were designed as short-term safeguards, warning that prolonged disruption to shipping lanes could eventually affect exports if safe passage through the strait is not restored.
The oil chief’s remarks came as Kuwait faces heightened security tensions amid continued missile and drone attacks.
He noted that residents have recently heard missiles and explosions as defense systems intercept incoming threats, while drones have been spotted flying over key energy installations.
Despite the security situation, he said Kuwait’s energy infrastructure has remained operational and contingency plans have helped cushion the immediate impact on exports.
