Error message

  • Warning: mysqli_connect(): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 248 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.arabianoilandgas.com.settings.php).
  • Warning: mysqli_connect(): (HY000/2002): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 248 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.arabianoilandgas.com.settings.php).
  • Warning: mysqli_close() expects parameter 1 to be mysqli, boolean given in include() (line 272 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.arabianoilandgas.com.settings.php).

US exports may create energy shift

Changing energy trades could alter energy flows forever

Sheikh Ahmed bin Saeed al Maktoum says that if the US can export large quantities of oil & gas, it will change the energy landscape completely.
Sheikh Ahmed bin Saeed al Maktoum says that if the US can export large quantities of oil & gas, it will change the energy landscape completely.

If the US can export large quantities of oil & gas, there will be an energy revolution and a change in traditional energy trade flows, HH Sheikh Ahmed bin Saeed al Maktoum, chairman of the Supreme Council of Energy, president of the Department of Dubai Civil Aviation Authority, chairman & chief executive, Emirates Group, Dubai, UAE said at the 22nd Annual Middle East Petroleum and Gas Conference 2014.

These trade flows are already changing across the globe, with the rise of Asia as a global hydrocarbons consuming powerhouse.

“We see Atlantic Crude being diverted from the US and finding markets in Asia instead. Suppliers in Africa, in Canada, Latin America and the CIS are all looking to Asia to consume their crude,” said HH Sheikh Ahmed bin Saeed al Maktoum.

Jason Stevens, director, Energy Equity and Credit Research at independent investment research firm Morningstar said that he would like to see the United States freely export, and import, both gas and oil, but does not see there being an ‘energy revolution’.

“We’re not so certain that there will be an ‘energy revolution’. However, our early numbers here suggest that United States’ gas exports would likely be constrained by arbitrage pricing. Export too much gas, and domestic prices go up, making US exports uncompetitive in Asian markets above approximately $8/mcf Henry Hub pricing,” said Stevens.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - September 2020

Subscribe Now