Gulf producers are racing to build pipelines and ports that let oil leave the region without passing through the Strait of Hormuz. Goldman Sachs analysts, led by Alexandra Paulus, tracked seven such pipeline and export-infrastructure projects across the Gulf that are under construction, planned or considered feasible. If they are completed on time, they could protect more than 45% of the Gulf’s oil exports from Hormuz-related risks by the end of 2027. That figure could rise to over 60% by the end of 2028.