Unrest in Egypt turns anxious eyes to Suez Canal

February 3, 2011 at 8:50 am

AS VIOLENCE has broken out in Egypt, concern has turned to the risk of the blocking of the Suez Canal or nearby pipelines, which could pose a threat to world energy supplies.

So far oil and gas flows through Egypt have not been interrupted, and the army has strengthened security around the canal and pipelines.

But rising tension in the port of Suez has led several shipping companies to order their ships not to change crews in Egypt. And disruptions in government port services have slowed the discharge of some crude oil cargo at the Red Sea port of Ain Sukhna, at the southern entrance to the canal.

Advertisement: Story continues below ”Potentially, we see attacks on employees of shipping companies and attempted attacks on vessels docked in ports if you see more violent demonstrations around the ports,” said Helima Croft, a director and geopolitical strategist at Barclays Capital. Read More

SOURCE: C. Krauss, The Sidney Morning Herald, February 4, 2011


Entry filed under: Egypt, General Information.

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