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Maritime Cyprus 2009 “A Changing Climate: Emerging Opportunities” Energy Consumption and Transportation Peter M. Swift 30 September 2009 INTERTANKO: London, Oslo, Brussels, Singapore, Washington
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Energy Consumption and Transportation The Future ?? We know what we do not know ! Reactions to “Global warming” / Outcomes from UNFCCC-COP15 Strength and timing of the “recovery” Future energy prices The elasticity of demand to energy prices (and taxes)
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Primary energy consumption by fuel Billion tonnes oil equivalents Source: BP + Forecast 2010/15/20/25/30 EIA 2015 2020 2030 EIA forecast
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Gulf of Mexico Brazil Nigeria Angola Caspian Sea Qatar NW Australia Emerging opportunities Increasing offshore production Source: Offshore Magazine (2008; 2009); Rigzone New maritime opportunities to support Exploration, Production, Storage and Transportation
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Emerging opportunities Future Ice Operations – beyond the Baltic Pechor a Sea Arctic Circle Barents Sea N Chukchi E Siberia Sea Laptev Sea N Kara Sea S Kara Sea West Greenland N Slope Beaufort USA Canada Russia Greenland(Denmark) Norway Sweden Sweden Finland Finland Iceland East Greenland West Siberia Basin include in USGS study Basin excluded Source: BP *USGS study
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Energy Consumption and Transportation Energy Shipping : The Future ?? Supply Surpluses – but delayed deliveries, accelerated demolitions and a drive for “optimum” speeds & Demand Slow down – but more long-haul crude, more refinery imbalances and emerging opportunities = ?? Volatility
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Energy Consumption and Transportation The Future ??
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THANK YOU For more information, please visit: www.intertanko.com www.shippingfacts.com www.maritimefoundation.com INTERTANKO: London, Oslo, Brussels, Singapore, Washington
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