Middle East Unrest Could Cut Gas Supplies 3%, Goldman Says
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Global natural gas supplies could be reduced by about 3 percent if production cuts in Libya spread to other producing nations in the Middle East, Goldman Sachs Group Inc. said in a report dated March 6.
Gas exports totaling 79 billion cubic meters a year could be cut if social unrest causes disruptions in Egypt, Oman, Yemen and Algeria, said the Goldman analysts led by London-based Samantha Dart. That is the equivalent of 2.6 percent of global supplies and includes 10 billion already suspended in Libya, the report said. Potential disruptions to Algeria would have the largest impact as the country produces 2.7 percent of global output, according to the report.