The Baku-Tbilisi-Ceyhan pipeline is the key way for supplying oil from the Caspian region to the external markets, Gleb Gorodyankin, Thomson Reuters analyst, said, Trend reports on April 22.
Gorodyankin made the remarks at the 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku.
“At the same time, there are four key risk factors for oil supplies from the Caspian region to the world markets,” he added.
“Firstly, this is competition with alternative types and volumes of oil, and secondly, a reduction in pipeline capacity,” Gorodyankin said. “Thirdly, these are political and economic changes and finally, fourthly, these are changes in supplies.”
While speaking about the global energy market, he stressed the growing role of the US, which in the coming years may turn from an importer into the biggest oil exporter.
“To a certain extent, the sanctions imposed on a number of leading oil exporters, in particular Iran and Venezuela, contribute to that,” he said.
Gorodyankin said that the politicization of the energy market leads to the fierce competition among the producing countries.
The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals kicked off in Baku on April 22, 2019. Over 300 participants, including representatives of the biggest oil and gas companies, refineries, trading companies, ports, terminals, banks and analytical agencies attend the event annually.
The participants of the 4th SOCAR Forum discuss regional gas projects; potential imbalances in the global hydrocarbon market in 2019; new oil and gas fields in the region and their impact on trade flows and export routes; Caspian and Central Asian oil in a global context; and key export markets for the region’s refineries and trade flows.
Among other issues, trends in the global markets for petrochemical products including price trends, trade flows and technology development, and current state and prospects of Transcaucasian railway routes to the ports of Georgia will be also reviewed.
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