{"id":20150,"date":"2021-04-28T17:40:06","date_gmt":"2021-04-28T16:40:06","guid":{"rendered":"https:\/\/www.noatum.com\/impact-suez-blockade-oil-gas\/"},"modified":"2021-06-16T08:44:44","modified_gmt":"2021-06-16T07:44:44","slug":"impact-suez-blockade-oil-gas","status":"publish","type":"post","link":"https:\/\/www.noatum.com\/en\/impact-suez-blockade-oil-gas\/","title":{"rendered":"The impact of the Suez blockade on oil and gas"},"content":{"rendered":"

Under normal circumstances about 8% of LNG and about 2 million barrels of oil pass through the Suez Canal every day. In addition, 10% of the world’s trade passes through Egypt using this strategic waterway and the movement generated there translates into more than 8.5 million euros in goods.<\/span> <\/span><\/p>\n

A single day without activity could have (and has had) a devastating effect on maritime traffic and the supply of goods, generating a new era of uncertainty in the global oil and gas supply market.<\/span> <\/span><\/p>\n

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The Ever Given <\/span><\/b>bottleneck,<\/span><\/b> <\/span><\/b>an<\/span><\/b>unprecedented event <\/span><\/b> <\/span><\/p>\n

On March 23, an unprecedented event threatened to block one of the world’s most important and busiest access routes, with the consequences that this could have on global supply chains. <\/span> <\/span><\/p>\n

The Suez Canal, the main commercial artery between Europe and Asia, was paralyzed by the Panamanian <\/span>Ever<\/span> Given, one of the world’s largest container ships, which ran aground in the canal, causing a bottleneck at one of the most strategic points of international maritime traffic and congesting the movement of more than 10% of the world’s maritime logistics.<\/span> <\/span><\/p>\n

Following the incident, on March 29th <\/span>the ship ran aground,<\/span><\/a>as we reported in this article, which includes official information broadcast by state television and reported by CNN. <\/span> <\/span><\/p>\n

The result, that same day, was 369 ships trapped <\/span>in a tailback<\/span> trying to pass through the canal on both sides of a blockade that finally ended, but after which numerous unforeseen events and other consequences were expected to be resolved in order to restore normality to the Suez Canal.<\/span> <\/span><\/p>\n

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Effects during the first days of the blockade<\/span><\/b> <\/span><\/p>\n

The first days after the stranding were crucial for studying the situation, monitoring every movement that was generated and configuring a strategy with which to approach the next steps to be taken. <\/span> <\/span><\/p>\n

At that point, and even now with the vessel aground, the crucial thing is to keep under control all the operations associated with this accident in order to achieve real-time traceability to inform shippers of the transit of their goods.<\/span> <\/span><\/p>\n

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During the first days of blockades, from March 23 to 28, the effects were already clear and the incident resulted in some of the following situations:<\/span> <\/span><\/p>\n