The global energy map is being redrawn amid, in
particular, a rise in oil and gas production in the United
States, reports of new finds of mineral resources in
various regions (for example, East Africa and the
Mediterranean), as well as advances in extraction
technology. The recent surge in the shale oil and gas
production in the United States – the largest world
oil consumer – is probably the single most gamechanging
trend, with implications extending beyond
national borders and having a strong bearing on
tanker trade. The International Energy Agency expects
the United States to become a net exporter of natural
gas by 2020 and to overtake Saudi Arabia as the
largest global oil producer by the same year, before
becoming nearly self-sufficient in energy by 2035
(International Energy Agency, 2012). Looking ahead,
this may result in a new world energy map, with fewer
crude volumes traded internationally, more refined
products exported from the United States, and China
and India potentially emerging as large importers of
crude oil and exporters of refined petroleum products.
Demand by type of petroleum product will also evolve,
with middle distillates such as diesel used in transport
growing rapidly (Lloyd’s List, 2012a).
The global energy map is being redrawn amid, in
particular, a rise in oil and gas production in the United
States, reports of new finds of mineral resources in
various regions (for example, East Africa and the
Mediterranean), as well as advances in extraction
technology. The recent surge in the shale oil and gas
production in the United States – the largest world
oil consumer – is probably the single most gamechanging
trend, with implications extending beyond
national borders and having a strong bearing on
tanker trade. The International Energy Agency expects
the United States to become a net exporter of natural
gas by 2020 and to overtake Saudi Arabia as the
largest global oil producer by the same year, before
becoming nearly self-sufficient in energy by 2035
(International Energy Agency, 2012). Looking ahead,
this may result in a new world energy map, with fewer
crude volumes traded internationally, more refined
products exported from the United States, and China
and India potentially emerging as large importers of
crude oil and exporters of refined petroleum products.
Demand by type of petroleum product will also evolve,
with middle distillates such as diesel used in transport
growing rapidly (Lloyd’s List, 2012a).
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