CGES: Baltic exports of Russian crude threaten dominance of Black Sea routes

06/21/2004
Development and rapid expansion of new export terminal on the Baltic Sea threaten the traditional dominance of Black Sea ports in the seaborne trade of Russian oil, according to an analysis by the Centre for Global Energy Studies, London.The drive to build new export terminals in the north in part results from mounting competition faced by Russian crude in Mediterranean markets, said the report, where lengthening delays in transiting the Turkish Straits have driven up delivery costs. These delays are the result of more-stringent conditions imposed by Turkey on large oil tankers transiting the Bosporus and Dardanelles straits. Click here to enlarge imageFigs. 1 and 2 present historical ex...
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