Forces beyond demand growth reshaping trade in oil and gas

08/01/2005
Patterns of trade in oil and natural gas, while never static, are entering a period of fundamental change. Demand for both fuels is not only increasing worldwide but also changing in other ways that will create broad shifts in the movement of hydrocarbons.Elements of these changes already are manifest in major projects in specific areas. Crude has begun to move from the Caspian Sea to the Mediterranean, for example, and Caspian gas soon will begin moving westward along part of the same route (OGJ, June 27, 2005, p. 61). Long crude oil pipelines are planned from Russia and Kazakhstan to Japan and China (OGJ, July 18, 2005, p. 52). Export pipelines from Canada to the US are expanding to acc...
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