MPGC: Energy security relies on more than assured supply

Bob Tippee, EditorEnergy security involves more than the supply assurance on which oil-consuming countries, especially the US, rivet their attention. To oil exporters, it also means assurance of markets, speakers emphasized May 10 at the Middle East Petroleum & Gas Conference (MPGC) in Bahrain."Will the Middle East believe in demand security and invest?" asked Edgard Habib, ChevronTexaco Corp. chief economist. "It's a good issue for the industry to ponder."In discussions of energy security, said Nader H. Sultan, deputy chairman and CEO of Kuwait Petroleum Corp., it's important to distinguish between strategic and commercial suppliers.Unlike their commercial counterparts, strategic...

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