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TODAY IN ENERGY: The Suez Canal and SUMED Pipeline are critical chokepoints for oil and natural gas trade

Posted by Hui Shan

24-Jul-2019

https://nrgedge.net/article/1563944717-today-in-en...

  • The Suez Canal and the SUMED Pipeline are strategic routes for Persian Gulf crude oil, petroleum products, and liquefied natural gas (LNG) shipments to Europe and North America.
  • Total oil flows through the Suez Canal and the SUMED pipeline accounted for about 9% of total seaborne traded petroleum (crude oil and refined petroleum products) in 2017, and LNG flows through the Suez Canal and the SUMED pipeline accounted for about 8% of global LNG trade.
  • In particular, the Suez Canal is gaining importance as a southbound route for U.S. and Russian crude oil and petroleum products to destinations in Asia and the Middle East.



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