The Middle East conflict has fundamentally altered energy sector priorities, with consumers and producers alike adjusting to this new reality. Until this year, production capacity was the main measure for producers, but the focus has now shifted to delivery. Capacity is of little use if supplies cannot reach global markets.
The direction of travel became apparent in the first days of the conflict (MEES, 6 March), and the contours of the emerging system have gradually become clearer since then. In his opening address to the Adipec conference in Abu Dhabi this week, Adnoc CEO Sultan al-Jaber addressed the issue directly, stating that “energy security is not only measured at the point of production. It is now also measured at the point of delivery.” (CONTINUED - 1012 WORDS)
