The senior trade official Akbar Torkan was quoted by the semiofficial ISNA news agency as saying the new terminal will be built at Bandar Jask port on the Oman Sea.
The sole major crude export terminal of Iran is located at Khark Island in the Persian Gulf.
According to Torkan, bypassing through Hormuz will be seen as protecting exports from instability in the Gulf.
Earlier, Iranian officials have been threatened to shut down Hormuz at the mouth of the Gulf, the passway by which a fifth of the world’s oil flows.
