Originally Posted by
petit plateau
Back then the cargoes were mostly crude oil. These days there are also a lot of LNG carriers, i.e. liquified methane - and those ships are definitely not the same thing as a old-style crude tanker. Getting crude oil to burn can take a bit of effort, and the spread of fire is relatively slow. Getting LNG to burn, and the rate of spread of fire, is a dramatically different thing. Quatar gas is about 20% of world shipping LNG supplies. Combine all this that is why the LNG spot prices have gone ballistic, the crude oil prices not so much.
A few years back we discussed the issue of Syria blocking a gas pipeline from the Gulf into the Med, and Europe, thanks to Russia's self interest being impacted.
I wonder if, now that Syria is no longer run by the Assad family, such a pipeline will get built and mitigate the risk of some of that export product. (Yes, I know that pipeline projects take a while to get underway and completed).