The Gulf and Asian Energy Requirements: Secure Supply or Oil on the Water?
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The paper addresses: • The Asian economic giants, China, India, Japan and South Korea require secure supply of Gulf oil and gas resources to fuel their burgeoning manufacturing sectors. • Gulf countries find themselves in the fortunate position of seeing the 'Asian market' as an inexhaustible destination for their energy commodities. • Issues such as Iraq/Iran/Syria as well as the simmering internal problems within Gulf countries make the region an uncertain supplier, and, as time goes by, less able and willing to guarantee stability of supply to the international market owing to uncontrollable internal and external factors. • Piracy in the Arabia Sea, and the potential for war in the gulf, places uncertainty on the sea lines of communication between Gulf oil/gas and the Asian market, disruption of which will have a deleterious impact on international oil and gas prices and on the scale of Asian economic growth.